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Bulgarian Real Estate Fund Reitsofia Sells Office Premises For 20.9m Euro

Investment vehicle Bulgarian Real Estate Fund (BREF) REIT-Sofia said on February 5 it sold the open air parking lot and the office premises that are part of the large-scale Kambanite Business Centre project to Navigator Business Centre Ltd

The business centre, located along Sofia's ring road, lies opposite of Business Park Sofia is still under construction, but is due to be completed by the end of this year.

The office spaces have a gross actual area of 15 809 sq m. The value of the deal is 20.9 million euro, without VAT, BREF said in a statement to the Bulgarian Stock Exchange, where it is listed.

BREF has already sold the retail areas of the Kambanite Business Centre, thus completing its exit from the project, which brought it 32.05 million euro in total revenue.

Last month BREF announced it has leased 394.15 hectares of agricultural land for a period of one to five years in Dobrich, Varna, Silistra and Razgrad regions.