Europa Capital acquires Mall of Sofia

The news is a few days old, but Europa Capital has bought the 23,600 sqm Mall of Sofia from GE Capital and Avestus Capital Partners. It was completed in 2006, and its sale marks the largest retail investment transaction in the country since 2008. It’s Europa Capital’s second retail investment purchase in Bulgaria, following its €20m purchase of Retail Park Plovdiv earlier this year. CB Richard Ellis along with its Bulgarian affiliate MBL advised Europa Capital in both transactions.
“Retail has remained high on investors’ wish lists. CEE investors are not looking beyond prime yet, and this has meant that there has been limited investment product available as a consequence. Countries in Southeastern Europe are now benefitting from this as high quality properties are priced more attractively and liquidity is therefore starting to increase.” – said Patrick O’Gorman, Director of CBRE Capital Markets CEE.

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