SOFIA (Bulgaria), October 30 (SeeNews) – Blue-chip real estate investment trust (REIT) Bulgarian Real Estate Fund (BREF) [BUL:5BU] said it has signed a 9.65 million lev ($5.6 million/4.9 million euro) contract for the right to build and operate an office building on the territory of state-owned Sofia Tech Park.
Under the deal, the company acquires the right to build an office building with a total floorage of 35,000 sq m and an underground parking lot on two levels with a total built-up area of 16,000 sq. m, BREF said in a bourse filing on Friday.
In June, the two sides signed a preliminary contract for the acquisition of the building right.
In May, Sofia Tech Park said three companies placed bids in a tender for a contract to build and operate an office building on its territory. BREF offered to pay the highest price – 9.65 million levs. The other two candidates - Delta Capital Real Estate and Armada Realty, offered to pay 9 million levs and 8.3 million levs, respectively.
As at 1050 CET on Monday, Bulgarian Real Estate Fund shares traded 1.74% lower at 2.26 levs.
(1 euro=1.95583 levs)