Austria's banking group Raiffeisen Bank International is seeking to acquire Miller Mall Varna, the owner of the Mall Varna shopping centre in Bulgaria. The property is owned by UK-based Miller Developments which in 2008 acquired it for EUR 120 mln in one of the country's largest single-asset deals. At the time, Raiffeisen provided the debt for the acquisition.
Austria's banking group Raiffeisen Bank International is seeking to acquire Miller Mall Varna, the owner of the Mall Varna shopping centre in Bulgaria. The property is owned by UK-based Miller Developments which in 2008 acquired it for EUR 120 mln in one of the country's largest single-asset deals. At the time, Raiffeisen provided the debt for the acquisition.
A spokesperson for Raiffeisen confirmed on Thursday to PropertyEU that the group is currently in negotiations with Miller but declined to comment further on the sale process.
Miller's involvement in the scheme dates back to June 2007 when it signed a conditional contract to acquire Mall Varna on its completion from local developer Interservice Uzunovi Jsc.
The centre opened for trading in June 2008, offering roughly 33,000 m2 of gross lettable area across 150 shops, a multi-screen cinema, bowling alley and food court. It boasts an international line-up of tenants, including Adidas, Camper, Esprit, Nike, Nine West, Swarovski and L’Occitane.
