MIL Equity Partners to invest in Bulgaria, other European countries
Published:
23 March 2005 y., Wednesday
A limited partnership has been created to invest in commercial and residential real estate in emerging European countries. The partnership's first fund will invest in Bulgaria.
Boston-based MIL Equity Partners LP expects to buy, lease and manage properties in Bulgaria, which is expected to join the European Union in 2007, CFO Michael Perlas said in a statement.
Bulgarian property prices jumped 20 percent in 2003 and 25 percent in 2004, Perlas said. Prices of coastal properties on the Black Sea increased more.
Bulgaria joined NATO in 2004 and NATO has five new military bases in the country, the CFO said. Last year foreign direct investment in the country reached $1 billion, he said.
The amount of the fund has not been disclosed. MIL Equity expects to make its first purchases in the second half of this year.
Šaltinis:
boston.bizjournals.com
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