Greece's Gek Terna Sells Bulgarian Telus Tower Owner for 78.6 Mln Euro

Greece's Gek Terna Sells Bulgarian Telus Tower Owner for 78.6 Mln Euro

Greece's GEK Terna Holding Real Estate Construction said on Wednesday that it has sold its Bulgarian subsidiary I&B Real Estate, owner of Sofia-based office building Telus Tower, for 78.6 million euro ($89.9 million). Telus Tower, which is currently fully leased, offers a total area of 54,000 sq m, GEK Terna said in a filing to the Athens Stock Exchange. The building was completed in 2018 and is due to receive BREAM certification soon. The name of the buyer was not disclosed but documents filed with the Bulgarian commercial register indicate that the new sole owner of I&B Real Estate is Athens-headquartered NBG Pangaea Real Estate Investment Company. The registry agency has not yet entered the documents into the commercial register.

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