The Bulgarian Real Estate Fund (BREF) has signed preliminary agreement to sell a 3,616 sqm regulated land parcel in Sofia’s Mladost 4 district for €250 per sqm. The sale must be completed by the end of this month. No other details of the deal were released.
BREF posted a net profit of about €1m for 2015, up from a net loss of almost €1.9m in 2014. Growth was driven by higher rental income and a positive reevaluation of the fund’s properties. BREF specializes in strategic property acquisitions and invests exclusively in high-performing properties across Bulgaria.
