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Everty expands Bulgarian footprint with three property deals

Everty expands Bulgarian footprint with three property deals Matrix Tower, one of three assets bought by Everty. Image: supplied.

SOFIA (Bulgaria), August 9 (SeeNews) - Everty Bulgaria, a unit of Cyprus-based prime real estate developer Everty Group, said on Tuesday that it has acquired three properties in the Bulgarian capital Sofia under a previously-unveiled plan to invest up to 100 million euro ($102.3 million) in Bulgaria by 2024.

The company is still on the lookout for further opportunities for long-term high-value investments in the Bulgarian real estate market, Everty said in a press release.

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The acquired assets are Oborishte 63 boutique hotel in central Sofia, previously known as Sofia Residence, Matrix Tower - a 4,000 square metre office building near Business Park Sofia, and Prizma Offices, which offers 8,000 sq m of office space close to Sofia Tech Park. The value of the acquisition was not disclosed.

The deals bring to over four the number of properties in Everty's Bulgarian portfolio. The real estate company, part of Cyprus-based holding company YNV Group, entered the Bulgarian market in 2019 when it bought Perform Business Centre, a 40,000 sq m office building in Sofia.

"Everty plans to acquire, develop and manage an exclusive portfolio of commercial real estate and hospitality projects (hotels)," YNV Group director of finance and Everty Bulgaria chief investment officer, Antonia Yordanova, said.

Everty first unveiled its four-year investment plans in Bulgaria in June 2020. At the time, the company's portfolio of exclusive office buildings in Nigeria, Costa Rica, Bulgaria and the US was valued at $200 million (195.5 million euro).

($ = 0.9774 euro)