Europa Capital sells Mall of Sofia in Bulgaria

Europa Capita sells Mall of Sofia in Bulgaria

Europa Capital has contracted the sale of its Mall of Sofia in Bulgaria to Globe Trade Centre S.AThe asset comprises a 23,700 m² shopping centre and a 10,300 m² office tower located in the city centre.

 

The retail occupancy rate is currently at 98% and office occupancy rate is 100%. Anchor retail tenants include Billa, H&M, Benetton, Terranova, Technomarket, McDonald's, KFC and Cinema City. The office tenants include Deloitte and Quintiles.

 

During Europa Capital’s ownership, major asset management initiatives included a new lease with H&M on the ground and first floors following the reconfiguration of the basement to allow the relocation of Technomarket and the expansion of the Terranova store into the basement car park to create an additional 735 m² of lettable area.  

 

This sale represents the 14th full realisation from Europa Capital’s 2008 vintage Europa Fund III, which commenced acquisitions in mid-2009, following the post-GFC market correction. The remaining two investments in the fund are both in advanced stages of being realised.

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