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Arco Vara sells REIT

Alex Hayes 14 March 2018

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

BULGARIA Estonian developer Arco Vara has sold its real estate investment fund Arco Real Estate Fund REIT (Arco REIT).

The subsidiary, which is listed on the Sofia Stock Exchange, was created in 2015 with the purpose of raising capital for Arco Vara’s Bulgarian developments. However, Arco Vara claims the REIT no longer has a clear purpose as it has raised funds for such development through its share issue in January 2018. Arco REIT was sold at a profit for EUR 333,000. The transaction does not have a significant effect on Arco Vara’s operations or finances.


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