The acquisition of the Emerald Office Building, located in the Hermes Park and next to The Mall,
brings a much needed boost in investment activity to the Tsarigradsko Shousse office corridor in
Sofia.
[Sofia, Bulgaria, 13 March 2023] — Resolute Asset Management, responsible for managing and
monetizing the remaining real estate portfolio of Piraeus Bank Group in Bulgaria, has announced
the acquisition of the former head office building (Emerald Building) by MVF Holding for an
undisclosed amount.
The Class-A office building, comprised of nearly 7,000m2 of gross leasable area (GLA) and 90+
parking spaces, has been vacant since Piraeus Bank left Bulgaria in 2019. MVF Holding plan on
relocating their related companies’ various offices to the Emerald Building, operating under one
roof for the first time.
Emil Angelov, manager of Piraeus Real Estate, the company which owns the Piraeus Bank real
estate portfolio in Bulgaria, was pleased with the result, saying, “This transaction demonstrates
the quality of the Emerald Building as we were able to achieve an attractive offer price in a very
competitive environment.”
“Over the past two years we were approached by numerous potential investors and office
tenants,” commented Bryan Turner, Country Director for Resolute Asset Management in
Bulgaria, “but the owner-occupier model that MVF offered was the key to a successful
transaction for our client.”
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For more information, please call Bryan Turner at +359 889 787 001, or email at
bryan.turner@res-am.com
About Resolute Asset Management Group
Resolute Asset Management is a global real estate asset management and advisory firm with
over 330 employees and offices in 12 countries across Europe and the Middle East and has been
active in the Bulgarian market since 2014. Resolute successfully combines real estate investment,
banking, asset management and financing expertise to deliver innovative and effective asset
management advisory and portfolio management solutions to the banking and finance, private
equity, institutional and public sectors.
For more information, please visit www.resoluteassetmanagement.com
About Piraeus Real Estate
Piraeus Real Estate is part of Piraeus Bank Group and is responsible for the management of the
properties owned by the Group in Bulgaria.
For more information, please visit www.piraeusni.com/en