Global Finance Investing 50 Million Euro in Office and Residential Complex

Global Finance, one of the leading equity funds in Southeast Europe, has bought the Iztok service in Sofia’s Iztok residential quarter for 17 mln euro, the company announced.

The deal was made through the real estate investment trust Global Finance – Global Emerging Property Fund (GEPF) which has a capital of 150 mln euro.

Global Finance plans to invest more than 50 mln euro in the project, building a complex of office, commercial and residential buildings on the plot covering a total area of 40 sq meters.

GEPF is actively looking for projects to expand its investments in Bulgaria and is for opportunities to acquire sites in Sofia, Varna and Plovdiv.

Global Emerging Property Fund was established in 2005. Its shareholders include private investors and prestigious organizations such as the European Bank for Reconstruction and Development (EBRD), and IMMOEAST Immobilien Anlagen AG, a subsidiary of IMMOFINANZ Immobilien Anlagen AG, which is listed on the Vienna Stock Exchange.

Global Finance is one of the leading investment companies in Southeast Europe with offices in Athens, Sofia and Bucharest. It was established in 1991 and currently manages funds worth over 700 mln euro, having made more than 60 investments.

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