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NEPI buys Serdika complex in Sofia for €207m

by Andrea Waitrovich

New Europe Property Investments has acquired the mixed-use Serdika shopping center and office complex in Sofia, capital of Bulgaria, for a total of €207 million ($231 million).

NEPI subsidiary , NEPI Project One has purchased SPV Hansa Immobilien, which owns Serdika Center mall, from Einkaufs-Center Sofia as well as SPV CEE Property Bulgaria, which owns the Serdika Office development, from Property-Invest Immobilien.

Serdika Center is slated to become NEPI’s first property in Bulgaria.

The Serdika Center mall totals 553,996 square feet and opened in 2010. It is 99.3 percent leased. Tenants include brands such as Adidas, Benetton, Bershka, Billa, Cropp, Converse, Deichmann, and Zara.

Serdika Office is a class A office building that opened in 2011 with 306,642 square feet. The space is 98.6 percent leased to tenants that include Citibank, Coca Cola, Merck and Sutherland.

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