German company Degi has acquired the Mall of Sofia shopping centre, said the anti-trust authority, which should rule on the deal. Sources told Dnevnik daily that Degi Deutsche Gesellschaft fuer Immobilienfonds was also a bidder for the capital’s City Center Sofia but lost to US company Heitman, which offered 101 million euro.

Degi’s marketing director and press spokesman Dietmar Mueller declined to comment until the deal was wrapped up.

No financial details or yield about the new sale are available. City Center Sofia was sold at a 7.1 per cent yield.

In 2006, Mall of Sofia went to Irish investment fund Quinlan Private and GE Real Estate. It was previously owned by Israeli companies Ocif and Aviv, each with a stake of 25 per cent, and IT International Theatres with a 50 per cent stake.

Mall of Sofia was unveiled in May 2006 in downtown Sofia and has a built up area of 73 000 sq m. All 130 shops have been rented out to major global brands for 30-60 euro a sq m a month. The complex boasts Bulgaria’s first 3D cinema and 12 other cinema halls.

Source: Dnevnik.bg