The 49 million euro transaction was signed between SAP, a market leader in the business software industry, and Park Lane Developments, part of Lion’s Head, an investment and asset management platform which is also present on the Romanian market. Lion’s Head has EUR 350 million of assets under management and a portfolio of Class A office projects, such as Oregon Park in Bucharest and 2 premium office buildings in Sofia.
Following the current deal, SAP acquired the newly built class A office building Park Lane Office Center developed by Park Lane Developments in Sofia, for EUR 49 million. This is the largest investment deal on the Bulgarian office property market for 2021.
Park Lane Office Center was fully completed in June this year and already hosts Allianz Bulgaria headquarters at 3 floors with a total office space of 6,000 sqm.
“This investment deal is especially important for us because it happens in a very dynamic office market context. We do believe in the office property sector because it still provides good investment opportunities”, says Anca Simionescu, Country Manager of Lion’s Head in Romania.
“We are proud of the deal and the fact that SAP acquires Park Lane Office Center. This is a true recognition not only for the quality of our project but also for the entire group’s expertise”, says Tanya Kosseva-Boshova, Managing Partner of Park Lane Developments.
The office building has a gross built-up area of 34,800 sqm, 11 floors above and 2 underground. It is situated in one of the fastest-growing business hubs in the city with excellent transportation links.
Healthy Building Concept
Park Lane Office Center is designed and constructed to the highest international standards in the sector. The sophisticated air conditioning system ensures ample supply of fresh air to the 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 on the local market.