The transaction of 49 million euros was signed between SAP, market leader in enterprise software, and Park Lane Developments, a subsidiary of Lion’s Head, an investment and asset management platform also present on the Romanian market . Lion’s Head has EUR 350 million in assets under management and a portfolio of Class A office projects, such as Oregon Park in Bucharest and 2 high-end office buildings in Sofia.
As a result of the current agreement, SAP has acquired the new Park Lane Office Center class A office building developed by Park Lane Developments in Sofia, for 49 million euros. This is the biggest investment in the Bulgarian office property market for 2021.
Park Lane Office Center was fully completed in June this year and already houses the Allianz Bulgaria headquarters on 3 floors with a total office space of 6000 m².
“This investment transaction is particularly important for us because it takes place in a very dynamic office market context. We believe in the office real estate sector because it always offers good investment opportunities ”, states Anca Simionescu, Country Manager of Lion’s Head in Romania.
“We are proud of the agreement and of the fact that SAP is acquiring Park Lane Office Center. It is a real recognition not only for the quality of our project but also for the expertise of the whole group ”, declares Tanya Kosseva-Boshova, Managing Partner of Park Lane Developments.
The office building has a gross built area of 34,800 m², 11 floors above and 2 below. It is located in one of the city’s fastest growing business centers with excellent transport links.
Healthy building concept
Park Lane Office Center is designed and built to the highest international industry standards. The sophisticated air conditioning system ensures an adequate supply of fresh air to office space, including a special UV system for air disinfection that creates a comfortable and safe working environment for all occupants, employees and visitors. The same healthy principles are also applied inside Oregon Park in Bucharest, one of the greenest office complexes in the local market.