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Colliers concludes biggest ever American real estate investment in the Balkans

Colliers yesterday concluded the final sales agreement for Business Park Sofia, the largest business park in the region which is sold for €180 million.

The deal, in which the American investment management company Gramercy purchases the park from the German construction firm Lindner, is the largest ever real estate investment in Bulgaria and the biggest ever American commercial real estate investment in the Balkans. It was achieved in co-operation with Colliers Germany and is worth a total of €180 million.
Business Park Sofia is the largest business park in the region. Designed as a „city within a city”, it is spread over 220,000 square meters of land with a combined built-up area of 330,000 square meters, with 35 buildings, 198 companies, 5000 employees and 2000 visitors daily. Upon completion, it will house 400 companies and 10,000 staff.
Colliers International Bulgaria has been the exclusive leasing agent for Business Park Sofia and brokered the sale. „The scope and size of this transaction represents a turning point in the investment market of Bulgaria,” said Philip Bay, Regional Director of Colliers International in Southeast Europe. „Gone are the days when a few apartments sold on the Black Sea constituted a big investment. Bulgaria has now become a serious opportunity for major investors on both sides of the Atlantic.”
The Managing Director of Colliers International Bulgaria, Atanas Garov, welcomed the announcement. He said, „We are particularly pleased because we've played a big role in the success of Business Park Sofia. Colliers has been involved from the very beginning, ensuring a leading position for the business park in the market and achieving full occupancy of the premises.” Colliers International Southeast Europe was awarded Consultant of the Year 2005 for Southeast Europe.