Health and Wellness REIT-Sofia is to sign a 12 mln bank credit agreement with CB Corporate Commercial Bank AD, BSE-Sofia announced.

The money will be used to pay the 24,013 sq m property in the city of Varna, resort complex St. St. Constantine & Helena, bought by the trust about a week ago.

The 7.75% annual interest credit must be repaid in 5 years.

Only a month ago Health and Wellness REIT-Sofia increased its capital from 750,000 leva to 975,000 leva through the issuance of 22,500 new shares with a par value of 10.00 leva each.

Health and Wellness REIT’s stock were last traded on 23 March at 10.00 leva/share.