Boyanov & Co. has advised both the buyers and the sellers on NBG Pangaea REIC's acquisition of I&B Real Estate AD from Icon OOD, a company from the GEK Terna Group.
According to Boyanov & Co., the value of the deal was approximately EUR 79 million and the acquisition, which was completed on December 28, 2018, "constituted the second largest transaction on the Bulgarian office properties market in the last ten years."
I&B Real Estate is the owner of Sofia's City Tower, a fully-let office building that was put in operation in 2018 with a total area of about 54,000 square meters.
NBG Pangaea REIC is a real estate investment company in Greece that is listed on the Athens Stock Exchange.
The Boyanov & Co team advising NBG Pangaea REIC was led by Partner Nikolay Zisov and included Senior Associates Iva Miteva and Georgi Drenski and Associates Nedyalka Novakova and Adriana Bakalova.
The firm's team advising Icon OOD under a Chinese Wall structure consisted of Partners Yordan Naydenov and Nickolay Nickolov, Senior Associate Nikoay Kolev, and Associate Svetlana Tzvetkova.