Revetas Group completes sale of Park Center Sofia to TSH Investment

Revetas Group has successfully finalized the sale of Park Center Sofia to TSH Investment, a joint venture between Trinity Capital AD and HUS Invest AD. The financial terms of the transaction remain confidential.

Eric Assimakopoulos, Founding & Managing Partner at Revetas, emphasized the significance of the sale, highlighting the company’s role as a strategic investment manager since acquiring the shopping center in 2014. “During our tenure, we navigated multiple challenges, from the Global Financial Crisis and COVID-19 to inflation and debt restructuring, while successfully preserving and enhancing the asset’s value for our investors. This transaction marks not only a financial achievement but also a testament to the impact Park Center Sofia has had on the local community over the past two decades as Bulgaria’s first modern shopping mall,” he stated.

Vlad Dragoescu, CEE Head of Portfolio Management at Revetas, described the deal as the culmination of over two years of strategic planning and complex negotiations. “Through senior debt restructuring and innovative deal structuring, we transformed challenges into opportunities. This successful exit reinforces our momentum as we look forward to further milestones in 2025,” he added.

Opened in spring 2006, Park Center Sofia holds a historical position as Sofia’s first modern shopping mall, spanning 22,000 sqm of gross leasable area (GLA) across two underground and four above-ground levels. Strategically located at the intersection of Arsenalski and Cherni Vryh boulevards, the center continues to be a key retail destination, featuring a mix of leading local and international brands.

Legal advisory services for the transaction were provided by Schoenherr for the seller and Kinstellar for the buyer.