Europa Capital, the fund manager of Europa Fund III and the Europa Emerging Europe Fund, has completed the acquisition of Mall of Sofia in the Bulgarian capital from GE Real Estate and Avestus Capital Partners. The EUR 100 mln-plus acquisition - originally announced in June - was financed by the existing lenders OTP Bank and DSK Bank
Europa Capital, the fund manager of Europa Fund III and the Europa Emerging Europe Fund, has completed the acquisition of Mall of Sofia in the Bulgarian capital from GE Real Estate and Avestus Capital Partners. The EUR 100 mln-plus acquisition - originally announced in June - was financed by the existing lenders OTP Bank and DSK Bank
The asset will continue to be managed by Avestus Capital Partners with property management provided by MOS Management.
This is Europa's second investment in Bulgaria this year.
Mall of Sofia is a 23,600 m2 shopping centre with 10,400 m2 of offices above, located in the centre of Sofia.
Separately, Europa Capital announced its Fund III has entered into a joint venture with Ream Capital Partners and completed the £26 mln purchase of a portfolio of flexible workspace assets from Safeland. The Flexspace portfolio comprises eleven assets providing 69,500 m2 of industrial/warehouse and office accommodation located across England.
A member of The Rockefeller Group, Europa Capital is an established real estate fund management group operating from offices across Europe. Since 1995, Europa Capital's principals have collectively raised six real estate funds and committed to over 70 transactions totalling some EUR 7 bn across 18 European countries. Europa Capital is currently investing two investment funds for European property investment, being Europa Fund III and Europa Emerging Europe, which invests in Eastern Europe. Together, these funds raised EUR 895 mln of equity capital for investment.
