Eurobank Properties Agrees To Acquire Building In Bulgaria For 90.8

ATHENS (Thomson Financial) - Greek real estate company Eurobank Properties REIC said that it has entered into an agreement to acquire a Bulgarian joint stock company for 90.8 million euros which is building a property that will be completed by no later than October 2011.The company said that upon completion, the building situated in the capital of Sofia will have a gross area of about 31,530 square meters and 370 parking spaces.Arcon Construction, a Bulgarian company, is required to construct the building in compliance with agreed technical specification and deliver the property no later than October 2011.Eurobank Properties underlined that there is already a preliminary lease agreement for the lease of the building's total area by Eurobank EFG Bulgaria AD.The Greek company added that the acquisition is in line with its investment strategy for future growth, through selective acquisitions, taking into consideration the prevailing market conditions