AG Capital’s Lion’s Head Signs for Over 71 M Euro in Industrial Real Estate

Lion’s Head, our commercial real estate investment company, has recently signed a contract for acquiring BPD – a logistics and industrial property investment company. This is the largest deal in the sector for the last few years, totalling an investment of 71,4 million Euro.

logistics park in Varna

Following the new transaction, AG Capital has now added a new commercial property class to our group, thus becoming the second-largest owner of industrial real estate in Bulgaria. 

The purchase has been realised with an investment by the International Finance Corporation (IFC) – part of World Bank, and financing provided by UniCredit Bulbank. Legal advice has been backed by Wolf Theiss Bulgaria.

In a statement for media Tanya Kosseva-Boshova, Managing Director at Lion’s Head, commented: The acquisition of BPD is a significant achievement for Lion’s Head’s team and marks the beginning of our ambitious plan for regional expansion of our portfolio in a new business sector and in new markets – Bulgaria, Romania and Poland. Our plan is to keep the BPD brand and further develop it together with the existing team. We are aiming to ensure continuity and a seamless transition of the business within Lion’s Head’s standards, while maintaining a high level of governance“.  

The logistics centres acquired by Lion’s Head feature long-term international tenants such as Phoenix Pharma, DHL, DB Schenker, Carlsberg, Speedy (Geopost), Wurth, Sopharma and more than 50 other companies.

“Lion’s Head will continue the good practices established by the BPD brand, with the acquisition of the platform of 3 logistics parks and a successful team. All three projects have a total built-up area of 75,065 sqm and are situated in key locations – Sofia, Varna and Ruse. Our plans are to expand the current assets with the construction of an additional 28,000 sqm in Varna and Ruse“, adds Vladimir Gurdjieff, Head of Logistics and Industrial at Lion’s Head.

The largest of all three logistics parks is located in Varna. The centre dominates both the city and the whole region, offering its clients a total of 42,241 sqm of modern warehouse, office and commercial space. It has a strategic inner location with quick and convenient access to all parts of the city. The logistics complex is one of the few in our Maritime Capital, providing both dry warehouse and temperature-controlled storage areas. It is also equipped with a rooftop photovoltaic power plant, in compliance with ESG. 

The logistics park in Sofia marks a strategic location right off the Ring Road’s East Arc, opening quick access to both the central city area and the airport, as well as to the Hemus and Trakia highways. The project has been chosen for a main warehouse by both leading pharmaceutical distribution companies Phoenix Pharma and Sopharma Trading. The park also hosts major international companies such as Wurth and Jotun.

The third logistics centre is located in Ruse’s modern industrial zone, in close proximity to Danube Bridge 1, and the key border link to Romania.

Congratulations to everyone at Lion’s Head’s team on the landmark acquisition of BPD! The latest deal marks a significant milestone for all of us at AG Capital, now entering a new property class and becoming one of the largest owners of industrial and logistics real estate in Bulgaria.

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