BIG Shopping Centers Acquires Seven Bulgarian Malls for 223 Million Euros
BIG Shopping Centers is acquiring seven open-air shopping centers in Bulgaria for 223 million euros, aiming to expand its retail footprint in Eastern Europe with a projected annual NOI of 16.8 million euros.
BIG Shopping Centers group has signed a binding agreement to acquire full ownership of seven open-air shopping centers in Bulgaria for 223 million euros. The transaction is being executed through its subsidiary CEE-BIG B.V., in which BIG holds a 95% stake. The deal is subject to customary closing conditions, including the approval of the Bulgarian antitrust authority.
BIG plans to finance up to 60% of the acquisition through local banks, with the remainder covered by internal resources. In the first phase, BIG will acquire three operating commercial centers, followed by four additional centers currently under development over the next year and a half. The development projects will operate under the BIG brand, with two centers located in Sofia and the rest in major regional Bulgarian cities.
The acquired properties span a total leasable area of approximately 140,000 square meters and are projected to generate an annual Net Operating Income (NOI) of roughly 16.8 million euros. This expansion aligns with BIG's strategic focus on the Balkans and Eastern Europe, leveraging its existing network and established relationships with regional retail chains.
