BULGARIA'S ERG CAPITAL-1 SIGNS DEAL TO SELL COMMERCIAL CENTRE ORIFLAME FOR 1.6M EURO
Bulgaria's real estate investment trust ERG Capital-1 has signed a preliminary agreement to sell its Commercial Centre Oriflame in Sofia for 1.63 million euro, the company said without disclosing the name of the buyer.
The preliminary agreement, however, may not result in a deal, as the contract has specific terms and if the buyer fails to fulfill them, the deal could be terminated.
One of the conditions envisions the centre's upgrade for 30 000 euro, with the sum to be provided by the buyer.
Commercial Centre Oriflame is near the interchange on the Tsarigradsko Chausse boulevard.
In March, ERG Capital-1 sold its building of a hypermarket of the Praktiker chain on Tsarigradsko Chausse for 10 million euro.
ERG Capital bought the two properties in 2004
