Revetas Group has announced the sale of Park Center Sofia shopping center to TSH Investment, a joint venture between Trinity Capital AD and HUS Invest AD, for an undisclosed sum.
Park Center Sofia was opened in 2006 and has a leasable area of 22,000 sqm. Home to a diverse mix of top-tier local and international brands, the center offers a dynamic retail experience that continues to attract shoppers and businesses alike.
“We acquired Park Center Sofia in 2014, and during the holding period, Revetas has successfully fulfilled its role as an experienced investment manager. Our team worked diligently to protect the asset’s value for our investors, navigating significant challenges from the Global Financial Crisis, COVID, inflation, and the debt crisis. Revetas successfully brought together a complex stakeholder structure to deliver a balanced recovery solution. Beyond this achievement, we take pride in the positive impact this project has had on the local community for almost 20 years since it was the first modern shopping center delivered in Bulgaria,” says Eric Assimakopoulos, Founding & Managing Partner at Revetas.
The deal was the achievement is the result of over two years of relentless effort, strategic thinking, and bold innovation, according to Vlad Drăgoescu, CEE Head of Portfolio Management at Revetas.
Schoenherr provided legal advice for the seller, while Kinstellar represented the buyer.
