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Revetas Capital looking for deals in smaller cities

Revetas Capital – the British investment fund that owns City Center Sofia and recently has acquired Sofia Airport Center – is currently looking at several potential deals in the office sector and in retail commerce in the secondary cities. “We are interested in deals in Plovdiv, Burgas and the seaside,” said Eric Assimakopoulos, CEO of Revetas Capital on the air of “In development” on Bloomberg TV Bulgaria.

“Central Europe as a whole is on the rise. Sofia is important part of it and we are in the right place at the right time. These are two of the best properties in Sofia,” Assimakopoulos said. According to him, Sofia has an interesting economy and the outsourcing business is growing very quickly. He said that this business in particular will support growth in the region.

The businessman also explained some of the details around the acquisition of Sofia Airport Centre. “After the acquisition of the company, we plan on investing millions of euro in it. Together with the bank we restructured the entire debt so that the company has a promising base. We plan to start construction of new office buildings in six months,” the investor explained.

Assimakopoulos expects to see an increase of office and retail centers’ rents of 8% – 10% in the next two years. He also said that Sofia is a very attractive destination for investors, partly due to the constantly developing infrastructure.