CBRE advised on the sale of US Residence in Sofia
CBRE SEE, a fully owned corporate office by CBRE Group in charge of South East Europe region (SEE), successfully advised on the sale of US Ambassador’s Residence, in Sofia. This very rare and exclusive property has received strong interest from local and international investors, and was sold in a record time, which confirmed that the investment market remains active in the SEE region, despite setbacks caused by COVID-19 pandemic.
US Residence is located at the heart of Bulgaria’s capital city center, and represents one of the major landmark properties in Sofia. It was constructed in 1935 – 1936, and designed by the most prominent names in the history of the Bulgarian architecture, from the beginning and the middle of the 20th century, Stancho Belkovski and Ivan Danchov. This modernism style property offers the best of both worlds, a window into Bulgarian history with its restored original details, and a contemporary oasis with its modern conveniences and decor.
This property served as a home to 23 US ambassadors, and has nearly 80-years tradition of friendship between the people of the United States and Bulgaria. The America for Bulgaria Foundation is the new owner of this unique villa, and will continue the legacy of goodwill between the two countries.
Zorana Aćimović (Photo: CBRE)
– Representation of the sale of a luxury villa in exclusive location, such as the US Residence in Sofia, with consulting services related to the placement of real estate on the market and marketing activities included, is the result of exceptional cooperation we have cherished for years with our office in Washington. We are proud of the whole process, in which we participated from the initial to the final phase, since several different sectors were involved in this project. Transaction such as this one also includes an official valuation of the property, marketing and operational activities, all the way to the realization. I would especially like to thank our colleagues at CBRE Washington, as well as the State Department, who actively and dedicatedly participated in the process and contributed to the successful completion of the sale – Zorana Aćimović, Head of Residential Sales at CBRE South Eastern Europe (SEE) comments.
Ana Mustafovski (Photo: CBRE)
– CBRE nurtures the values of teamwork, systematicity and international cooperation at an exceptional level, which again proved to be an effective combination of quality services provided by CBRE SEE at the regional level, especially as the entire process of selling the residence was completed in a very short time. Working on a project like this is a particular challenge in an epidemiologically unfavorable period and due to international procedures and standards that have, with good reason, been tightened since the beginning of the pandemic. In addition to the above, the specificity of this property requires a special approach, so interested buyers were given the opportunity to visit one of the two open house events – Ana Mustafovski, Senior Consultant at CBRE South Eastern Europe (SEE) added.
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