Revetas Group is pleased to announce the successful disposal of Park Center Sofia shopping centre to TSH Investment, a joint venture between Trinity Capital AD and HUS Invest AD. The terms of the transaction remain confidential.
Commenting on the announcement, Eric Assimakopoulos, Founding & Managing Partner at Revetas, commented: “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-19, inflation, and the debt crisis. Revetas successfully created 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 centre delivered in Bulgaria. This transaction reflects the synergy, dedication, and hard work of the Revetas management team, the outstanding property management services delivered by the CERES team and financial advisory support from Mercury.”
Vlad Dragoescu, CEE Head of Portfolio Management at Revetas, added: “This achievement is the result of over two years of relentless effort, strategic thinking, and bold innovation. Navigating a complex senior debt restructuring and pioneering creative deal engineering, our team turned challenges into opportunities. We are deeply grateful for the dedication and expertise that made this full project turnaround possible. With this momentum, we are confident that 2025 will bring even greater milestones for our portfolio.”
Park Center Sofia (PCS) made history as Sofia’s first modern shopping centre when it opened in the spring of 2006. Spanning 22,000 sqm of GLA across two underground and four above-ground levels, PCS is strategically positioned in the heart of downtown Sofia, anchoring the bustling intersection of Arsenalski and Cherni Vryh boulevards. Home to a diverse mix of top-tier local and international brands, the centre offers a dynamic retail experience that continues to attract shoppers and businesses alike.
Schoenherr provided legal advice for the seller, while Kinstellar represented the buyer.
