Local property fund Real Estate Bulgaria Fund has bought one of the two outlets of DIY retailer Mr.Bricolage in Sofia, immediately leasing it to its previous owner and current occupier for a period of 10 years.
In August, Real Estate Bulgaria Fund bought the Mr.Bricolage outlet in Varna, on the Black Sea, for 4 mln euro, signing a lease contract with the home decor retailer. The Sofia acquisition is valued at 6 mln euro If the lease option is a success, it could be extended to the other Mr.Bricolage stores in Bulgaria, the Bulgarian Mr.Bricolage franchise said in August. The disposals are raising cash for the expansion of the Mr.Bricolage store chain. Real Estate Bulgaria Fund portfolio includes 2 office developments in Sofia, a logistic development near the Sofia International Airport and a gated residential community near Burgas, on the Black Sea.