Revetas Group has announced the disposal of the Park Center Sofia shopping center to TSH Investment, a joint venture between Trinity Capital AD and HUS Invest AD.
Terms of the transaction were not disclosed
Commenting on the announcement, Eric Assimakopoulos, Founding & Managing Partner at Revetas, stated: “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, inflation, and the debt crisis. Revetas successfully brought together 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 center delivered in Bulgaria. This transaction reflects the synergy, dedication, and hard work of the Revetas management team, as well as the outstanding property management services delivered by the CERES team and financial advisory support from Mercury.“
“This achievement is the result of over two years of relentless effort, strategic thinking, and bold innovation,” added Revetas CEE Head of Portfolio Management Vlad Dragoescu. “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 — which was Sofia’s first modern shopping center when it opened in the spring of 2006 — spans 22,000 square meters of gross leasable area across two underground and four above-ground levels in downtown Sofia.
The Schoenherr law firm provided legal advice to the Revetas Group, while Kinstellar represented TSH Investment.