Bernard Investments Acquires Oriflame Center in Bulgaria
Bulgaria's real estate investment trust ERG Capital 1 has sold the Commercial Center Oriflame in the capital Sofia to Bernard Investments after failing to strike a deal with Greece's Bluehouse Capital last year.
The price of the deal is EUR 1.63 M, down from the initial tag of EUR 2.3 M.
The sale makes it possible for ERG Capital 1, majority-owned by the Bulgarian-American Enterprise Fund (BAEF), to terminate its operations this year as planned upon its establishment seven years ago.
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