Tishman International Cos. and GE Real Estate Central & Eastern Europe are working on a project that rolls up three trends in one: mixed-use development, airport retail and investment in an international center.
NREI online has the details on the $363 million project.
Two U.S.-based real estate firms will develop a $363 million mixed-use complex near the Sofia, Bulgaria international airport. Los Angeles-based Tishman International Cos. and GE Real Estate Central & Eastern Europe will co-develop the Sofia Airport Center project.
The announcement marks the first time that two U.S.-based developers have agreed to build a project in Bulgaria.
“Our joint venture is ideally positioned to successfully develop Sofia Airport Center, [which will become] a state of the art project that will set a new standard for commercial development throughout the region," says Alan Levy, chairman of Tishman International.