News

REIT BenchMark Estates sells Plovdiv retail center outlet

Local real estate investment trust BenchMark Fund Estates said it has sold one more retail unit in a company-owned shopping center in Plovdiv for 1.2 mln euro without tax.

This is the sixth outlet in the center with a new owner. The shopping center was put up for sale in early 2007.

The REIT has so far sold 4,390 sq m of the center's retail floor area while another 1,758 sq m are still up for grabs, said executive director Veselin Genchev.

The disposals of the entire retail space in the center are expected to generate 9.7 mln levs in total without taxes.

BenchMark Fund Estates bought the shopping center for 3.25 mln euro.

The company's pipeline includes office buildings on Sofia's Rakovski and Tsarigradsko Shose boulevards, a 214-apartment complex in ski resort Borovets and a hotel complex in Kyustendil.(Dnevnik)