18th Dec 2006 15:14
Eastern European Property Fund Ltd18 December 2006 EASTERN EUROPEAN PROPERTY FUND LIMITED ACQUISITION Eastern European Property Fund Limited ("EEPF") has acquired its first propertyin Bulgaria for approximately Euro 4.8 million, in cash. The property, whichutilises an existing facade with new construction to the rear, will provide fivestories of mixed office and retail use with underground parking. The property islocated on George Washington Street, Sofia. Payment will be made to the developer in stages as the work on the building iscompleted. Completion is scheduled for the end of the first quarter 2007. EEPF, which raised £20 million earlier this year, has invested approximately£5.3 million with a further £2 million committed in acquiring 4 properties andcontinues active discussion on a number of other property purchases. For further information contact: Elysium Fund Management Limited2nd FloorNo. 1 Le TruchotSt Peter PortGuernseyGY1 3JX This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Eastern European Property