Two more malls under the hammer at the turn of 2010

The sale of another two shopping malls will be finalized by the end of the year or in early 2011 at the latest, Assen Lisev, CEO of real estate consultancy MBL/CBRE, which manages City Center Sofia, told Dnevnik.
The two malls sold this year, or rather projects under construction, were Mall Rousse and Mall Stara Zagora, which cinema chain Cinema City offloaded to peer Israel Theaters for about EUR 85 million.
Lisev added that City Center Sofia, which since 2006 has changed hands three three times, was not among them, but declined to give more details.
Last week it became clear that Austrian Raiffeisen Zentralbank wants to buy Mall Varna, owned by Miller Developments. Then Mall Varna’s marketing manager Desislava Kovacheva said all the malls in the country were for sale, while a major real estate consultancy confirmed it but added that good offers were scarce. The price of retail space has dropped as rents have fallen, thus any sale will be at a loss for the owner, market observers explained.

News source: Dnevnik a.m. link: article