Mall of Sofia sale has been canceled
Тhe candidate buyer pointed out the economic crisis as a main reason. This is another worrying signal to the market of real property. This transaction was followed with attention by the business in the sector as this is the last one in the chaos of financial market and it would be the starting point of the real property investment markets in the following markets. The transaction was cancelled on the move of the candidate buyer - the German manager fund DEGI Deutsche Gesellschaft fur Immobilienfonds mbH, a part of the group Aberdeen Property Investors. From the office in Prague of the current owner of the asset - GE Real Estate Central and Eastern Europe, declined commenting due to pending negotiations. It is not clear if the price is not among the major obstacles to the transaction. One of the key issues in such cases is financing as banks are very cautious with granting loans for real property acquisitions. Meanwhile two other shopping centers have been successfully sold - Equest Balkan Properties transferred the ownership of City Center Sofia to a fund managed by the US Heitman, earlier was negotiated the sale of Mall Varna to the Scottish Miller Developments, it was contracted in 2007.