DGKV had the pleasure of advising Hercesa International on the acquisition of a new residential development site in Sofia — a transaction that will enable the construction of approximately 240 residential units and further reaffirms Hercesa’s long-term confidence in the Bulgarian market.

The substantial greenfield investment involved several complex legal and transactional elements. DGKV supported Hercesa throughout the process, conducting thorough due diligence on land, zoning, and regulatory matters; guiding negotiations with the Seller SPV amid differing shareholder interests and an ongoing zoning modification; providing strategic advice on risk allocation, transaction structure, and tax considerations; and drafting, negotiating, and overseeing the execution of the sale-purchase and escrow agreements to secure a timely and successful closing. The transaction was further complicated by a competitive sale process and a compressed timeline, conditions under which DGKV ensured that its client emerged as the successful purchaser.

Hercesa International is a real estate company with over 45 years of experience and a substantial portfolio of projects across Spain, Bulgaria, Portugal, Czechia, Romania, Morocco, Mexico, Panama, and Ecuador. The company develops residential, industrial, and service-sector properties, while also managing significant industrial land and promoting commercial centres, logistics and industrial parks, office buildings, hotels, and aparthotels.

One of Hercesa’s flagship initiatives in Sofia is the “Lipite” residential complex in Manastirski Livadi – East, for which DGKV provided legal support. Тhe project includes adjacent road and engineering infrastructure, extensive green spaces, and public areas. Once completed, the “Lipite” complex will offer a calm residential environment, low-rise contemporary architecture, excellent connectivity, and natural green belts with mountain views.

It is encouraging to see international investors such as Hercesa continue to bring high standards in design, sustainability, and project delivery, contributing to the steady elevation of Sofia’s urban environment even as public infrastructure works to keep pace.