Lion’s Head Investments has purchased three logistic parks from BPD in Sofia, Varna and Ruse for €71.4 million, in one of the biggest deals closed on the Bulgarian market in recent years.
The three logistics parks have a total built-up area of nearly 75,065 sqm and are occupied by over 50 companies. The company plans to further develop 28,000 sqm of new space in Varna and Ruse.
“The purchase is being implemented with structured financing, which provides for the simultaneous financing of the acquisition of the shares of several companies and includes a high level of business and legal expertise. Both the seller BPD and the buyer Lion's Head Investments are long-term key clients of UniCredit Bulbank, which made the financing possible thanks to the parties' established trust in the bank," said Borislav Bangeev, Director of Corporate Banking and Member of the Management Board of UniCredit Bulbank, which financed the deal.
Lion's Head Investments is the joint investment company between the Bulgarian AG Capital and the international Old Mutual Property.
