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City Centre Sofia sold

Submitted on Tuesday, 23 September 2008No Comment

City Centre Sofia, one of the biggest shopping malls in Bulgaria, has been sold to Heitman European Property Partners for the sum of 101.5 million Euro. The mall is situated in downtown Sofia, near the Hilton hotel and the National Palace of Culture and beside the National Museum in Natural History.

Equest Balkan Properties, the former owner of the shopping mall, acquired it in 2006 from Stroitown for 94 million euro.

The deal was made in accordance with the CB Richard Ellis evaluation in June and is expected to be finalized in November 2008 after an inspection of the Competition Protection Commission.