Poland's GTC Buys Mall of Sofia in Bulgaria for 90 Mln Euro

Poland's GTC Buys Mall of Sofia in Bulgaria for 90 Mln Euro

Polish real estate developer GTC Group said it has purchased Bulgarian company Dorado 1, the owner of shopping centre Mall of Sofia in Bulgaria, from Luxembourg-registered EEE 5 for 90 million euro ($108.7 million). EEE 5 is owned by Europa Capital company, which acquired the shopping centre in 2011.The deal is expected to be completed in the second quarter of 2018, GTC said in a filing to the Warsaw Stock Exchange late on Thursday."The acquisition of Mall of Sofia was an excellent opportunity to buy a stable cash-flow generating building, at the heart of Sofia," Thomas Kurzmann, CEO of GTC, said in a separate statement on Thursday.

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