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Largest transaction on Bulgarian real estate market

May 2009

Eurolex Bulgaria was the legal consultant of Bridgecorp Jsc on the acquisition by the client of the parent companies of LANDMARK PROPERTY MANAGEMENT S.A., one of the biggest companies on the real estate market in Bulgaria (the Buyer’s consultant was Credit Swiss Securities and CMS Cameron McKenna).

Bridgecorp Jsc is owned by the current managers of Landmark Bulgaria – Richard Macdonald and Tanya Koseva-Boshova. The portfolio of the group consists of 22 properties in Bulgaria and 1 in Turkey, with a total lease area of 92,300 sq. m, and 61,400 sq. m of land for building purposes. The assets of Landmark include also several office buildings in Sofia and Varna, a commercial park in Plovdiv, land intended for the construction of a golf course project and a university building in Istanbul. Amongst the main lessee in the Landmarks buildings are Post Bank, Nova TV, Deutsche Bank, DHL, CMS Cameron McKenna, Baumax, Deloitte, EVN, Unica, and Alexandra Video.

The value of the deal is 210 million Euros, which makes it the biggest transaction on the Bulgarian real estate market so far.

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