News
German firm Degi buys Mall of Sofia
German company Degi has acquired the big-box shopping centre Mall of Sofia, said the anti-trust authority, which should rule on the deal. Sources told Dnevnik daily that Degi Deutsche Gesellschaft fuer Immobilienfonds was also a bidder for the capital’s City Center Sofia but lost to U.S. company Heitman, which offered EUR 101 million. Degi’s marketing director and press spokesman Dietmar Mueller declined to comment until the deal was wrapped up. No financial details or yield about the new sale are available. City Center Sofia was sold at a 7.1% yield. In 2006 Mall of Sofia went to the hands of Irish investment fund Quinlan Private and GE Real Estate from Israeli companies Ocif and Aviv holding 25% of the capital each and IT International Theatres with a 50% stake. Mall of Sofia was unveiled in May 2006 in downtown Sofia and has a built up area of 73,000 square metres. All 130 shops have been rented out to major global brands for EUR 30-60/sq m a month. The complex boasts Bulgaria’s first 3D cinema and 12 other cinema halls. Source: www.dnevnik.bg