DGKV advised the Polish real estate developer Globe Trade Centre (GTC) on the acquisition of Mall of Sofia – one of the most successful shopping centres located in Sofia. The signing of definitive binding transaction documents took place on 26th April 2018 as the completion of the transaction is subject to approval of the Bulgarian competition watchdog.
GTC Group is a leading real estate investor and developer operating in Poland, Romania, Hungary, Croatia, Serbia and Bulgaria. The acquisition represents the consecutive investment in the region, as Mall of Sofia is a prime commercial property in the Central Business District of Sofia providing 23,700 m2 GLA of retail space and 10,300 m2 of office space and more that 600 underground parking places.
DGKV’s team provided comprehensive legal support, including structuring the transaction, legal due diligence of the target, and negotiating the transaction documents. Apart from the extensive transactional support, our lawyers provided legal assistance with regard to obtaining obtained a loan facility from a consortium of OTP and DSK banks to finance up to 65% of the market value of the asset, an of W&I insurance and title insurance. DGKV’ team was co-led by Partners Stephan Kyutchukov
and Georgi Tzvetkov
, and supported by Senior Associates Kaloyan Krumov
, Krassimir Stephanov
, Maya Mircheva
, Silviya Apostolova
, Yassen Spassov
, and Associates Lora Aleksandrova
, Dimo Staykov
, Kamen Gogov
, Tsvetelina Bayraktarova
, Viktoriya Marincheva
, Dessislava Ivanova
and Hristo Stoyanov
DGKV’s Real Estate & Construction Practice Group is one of the longest established and most prominent teams on the Bulgarian legal market. The law firm has been an undisputed leader on the real estate transactions market for more than 24 years due to the complex interdisciplinary legal solutions it provides to major clients, both Bulgarian and international, on a broad range of real estate and construction matters in Bulgaria. Our lawyers have played an active role as consultants in some of the corner-stone real estate projects in Bulgaria and the region, and more particularly on one of the most important public procurement projects; development, acquisitions and disposals of many commercial properties; and significant lease of industrial, office space, wholesale and retail deals.