DGKV has advised AP Investments AD on the sale of 50% of Mall Galleria Varna to the Serbian-based Delta Real Estate DOO and the Cyprus-based Astatine Holdings Limited. The buyers were advised by Deloitte Legal on the deal, which closed on August 18, 2017. The financial terms of the transaction were not disclosed.
According to DGKV, "Tthe total investment amount for the design and construction of Mall Galleria Varna is EUR 77 million. The building is completed, but due to the highly competitive retail market in Varna the mall is not opened yet. It has three underground and three above ground floors with a total floor area of 110,000 square meters."
The DGKV team advising AP Investments was led by Partner Georgi Tzvetkov, supported by Senior Associates Kaloyan Krumov, Valentin Bojilov, Dessislava Iordanova, and Krassimir Stephanov, and Associates Ivan Punev, Silviya Apostolova, and Vladislav Antonov.
The Deloitte Legal team was led by Partner Reneta Petkova and included Managers Kaloyan Yordanov and Zvezdelina Filova, Associates Severina Miteva and Konstantin Ivanov, and Trainee Hristo Milushev.
Image Source: mallvarna.bg