Property transaction with CTP B.V.
In August 2022, the ANDREEW HOLDING concluded its most successful property transaction to date with CTP B.V., Europe’s largest listed company for logistics and industrial real estate. The transaction included the sale of two Bulgarian logistics centres, the properties “Transcapital Airport” and “Transcapital Ring Road”. Likewise in August, the company LION Hotels EOOD was successfully sold to a local investor. The transaction included a total of four established hotels in Bulgaria.
Due to the significant disposal of business holdings, the Group is undergoing a Europe-wide restructuring. The parent company of the remaining subsidiaries – REALIUS, the Pfando Group and Fortuna KOM OOD – will be the renamed “Andreew Holding GmbH” at Kurfürstendamm 64 in Berlin. The restructuring is intended to ensure a more efficient and transparent company structure.
Info on the logistics centres
The property “Transcapital Airport” is one of the largest and most successful inner-city logistics centres in Bulgaria. It has lettable space of approximately 65,000 m2 for logistics and office space with international and local tenants as well as additional development potential of around 11,000 m2.
The second of the two logistics parks, “Transcapital Ring Road”, is on the eastern section of the Sofia ring road and is ideal for distribution and logistics companies. The logistics park comprises logistics and office space of approximately 8,500 m2 with an additional building permit for the expansion of a warehouse of around 20,000 m2.
Info on the hotels
The local hotel chain LION Hotels comprises four hotels in the four-star segment with around 650 rooms and total space of approximately 26,860 m2. The hotels are located in Bulgaria in Sofia, Bansko, Borovets and Sunny Beach.
CEO Vincent Andreew: “We will use the liquidity to make quick use of opportunities arising on the real estate and capital markets. These markets have changed substantially over the past six months and offer good opportunities for investment.”