Europa Capital LLP to acquire Bulgaria’s Retail Park Plovdiv

Europa Capital LLP, the general partner of Europa Emerging Europe Fund, has entered into an agreement to acquire Retail Park Plovdiv, Plovdiv, Bulgaria, from Landmark Property Management. Tim Norman, Chairman of the Europa Emerging Europe Fund, said the asset marks the firm’s first foray in Bulgaria, which represents a quality investment with a strong tenant roster.

The transaction volume for the investment is 20 million Euros. The asset will be managed by Alfa Property Management.

Retail Park Plovdiv is a 25,000 sq meters retail warehouse park located in Plovdiv, the second largest city in Bulgaria approximately 150 km south east of its Capital Sofia. The property has a quality tenant mix including Baumax, Deichman Shoes, DM pharmacy, Technomarket electronics and Sport Depot.

Europa Capital is an established real estate fund management group operating across Europe. Europa Capital is a member of the Rockefeller Group (RGI). RGI is a strategic investor alongside Management. Europa Capital’s Principals have collectively raised 6 real estate funds and committed to over 70 transactions totaling some €6.5 billion, across 17 European countries.

Europa Capital raised two new investment funds for European property investment in 2008 being Europa Fund III and Europa Emerging Europe, which invests in Eastern Europe. Together, these funds give Europa Capital €895 million of additional equity to invest. Europa Capital is currently investing its fifth and sixth European real-estate funds.

The Europa Funds benefit from Europa Capital’s network of Country Partners, who co-invest in acquisitions made by the Europa Funds in their territory. Many of the Country Partners have worked closely with the Principals of Europa Capital during the last 20 years.

Landmark Property Management was incorporated in Luxembourg in April 2005, by a group of institutional and strategic investors. The current owners are Altima Global Special Situations Master Fund Ltd and Gort (Holdings) Ltd. Investments by Landmark have included a prime investment portfolio in Bulgaria and Turkey and two unique resort development opportunities in Croatia. Total equity invested by the partners was €114 million.

Following the sale of Retail Park, Plovdiv, the company will have completed its strategic exit from Bulgaria. Europa Capital invests on behalf of over 70 international investors drawn from North America, Europe, the Middle-East, the Far-East and Australasia. The Bulgaria investment marks an initial presence for the firm in the country, crucial in establishing a thriving business, said Norman.

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