Revetas Group Announces the Successful Disposal of Park Center Sofia to TSH Investment
Sofia, 6 February 2025 – Revetas Group is pleased to announce the successful disposal of Park Center Sofia shopping center to TSH Investment, a joint venture between Trinity Capital AD and HUS Invest AD. The terms of the transaction remain confidential.
Commenting on today’s announcement, Eric Assimakopoulos, Founding & Managing Partner at Revetas, stated: “We acquired Park Center Sofia in 2014, and during the holding period, Revetas has successfully fulfilled its role as an experienced investment manager. Our team worked diligently to protect the asset’s value for our investors, navigating significant challenges from the Global Financial Crisis, COVID, inflation, and the debt crisis. Revetas successfully brought together a complex stakeholder structure to deliver a balanced recovery solution. Beyond this achievement, we take pride in the positive impact this project has had on the local community for almost 20 years since it was the first modern shopping center delivered in Bulgaria. This transaction reflects the synergy, dedication, and hard work of the Revetas management team, as well as the outstanding property management services delivered by the CERES team and financial advisory support from Mercury.“
Park Center Sofia, Bulgaria
Vlad Dragoescu, CEE Head of Portfolio Management at Revetas, added: “This achievement is the result of over two years of relentless effort, strategic thinking, and bold innovation. Navigating a complex senior debt restructuring and pioneering creative deal engineering, our team turned challenges into opportunities. We are deeply grateful for the dedication and expertise that made this full project turnaround possible. With this momentum, we are confident that 2025 will bring even greater milestones for our portfolio.“
Park Center Sofia (PCS) made history as Sofia’s first modern shopping center when it opened in the spring of 2006. Spanning 22,000 sqm of GLA across two underground and four above-ground levels, PCS is strategically positioned in the heart of downtown Sofia, anchoring the bustling intersection of Arsenalski and Cherni Vryh boulevards. Home to a diverse mix of top-tier local and international brands, the center offers a dynamic retail experience that continues to attract shoppers and businesses alike.
Schoenherr provided legal advice for the seller, while Kinstellar represented the buyer.
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About Revetas Revetas is a vertically integrated Pan European real estate investment advisor and manager with a thematic approach and focuses on distressed opportunities and value-add investments which may be entangled in complex and special situations. The firm’s leadership has been active in Europe for the past 25 years and Revetas has been a leader in the European real estate market, being supported by a broad network of 110+ professionals. Revetas Group was formed in 2002 and is led by Managing Partner Eric Assimakopoulos, with offices in London, Vienna and Luxembourg.
Revetas serves a global base of institutional investors, pension funds, endowment funds, institutional fund managers, family offices and ultra-high-net-worth individuals with a razor-sharp focus on delivering superior, risk-adjusted returns.
