US investment company Gramercy purchased Business Park Sofia ahead of 55 other competitors, exclusive seller Colliers International Bulgaria said.

Gramercy paid 180 million euro to the former owner of the complex, Lindner, Dnevnik daily said. A Lindner representative said that the company planned to re-invest the sum in Bulgaria.

Colliers Southeastern Europe regional director Philip Bay said that the scale of the deal was a turning point in the development of Bulgaria’s investment market.

Gramercy acquired 13 buildings, constructed on nearly 90 000 sq m, Dnevnik said. Nine of the buildings were already constructed, the other four would be ready by the end of 2007.

Gramercy would invest 30 to 35 million euro in the construction of the four unfinished buildings.

Currently 62 000 sq m of the complex are being rented. The average rent per month is 10 to 12 euro a sq m.

Business Park Sofia was planned as ‘a city in the city,’Dnevnik said. It was built on more than 220 000 sq m. Commercial and corporate customers, such as Arena Cinema, and Technopolis, possessed the rest of the park.

Once the park was finished, it would consist of 35 buildings with 330 000 sq m constructed area. The offices of 400 companies will be housed in the complex.