Bloomberg News

Arco Vara to Get 1.8 Million Euros in Bulgaria Apartment Sale

November 24, 2011

Nov. 24 (Bloomberg) -- Arco Vara AS, an Estonian property developer, said it will get 1.8 million euros ($2.4 million) for 21 apartments it’s agreed to sell in the Bulgarian capital Sofia.

The buyer, Cleves EOOD, has committed to buying 16 more apartments and 18 parking places by the end of next year for 2.8 million euros, Tallinn-based Arco said in a regulatory statement today.

--Editors: James Kraus, Alan Purkiss

To contact the reporter on this story: Ott Ummelas in Tallinn at oummelas@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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