Real Estate

Real Estate

SORTIS assists clients in structuring and managing their real estate investments.

Services for investors:

Market research          Sourcing investment opportunities          Structuring Deals

SORTIS provides asset management and advisory services for your real estate investment activities in Bulgaria. We could determine and implement your optimal real estate investment strategy in all major real estate sectors in Bulgaria: Office, Residential, Hotels, Retail, and Industrial.

Our expertise includes:

  • Providing you with extensive market research on economic, trading or demographic trends which impact real estate performance and overview of the real estate market size, sector specifics, prices, and rent levels.
  • Identifying & evaluating interesting real estate opportunities that fit your investment strategy through our close relationships with leading brokerage companies. Investment proposals are based on extensive market analysis, financial modeling and risk assessment.
  • Structuring the deal and representing you in the negotiation process. We would make sure you have all the financial instruments you may need.

Services for owners/developers:

Valuation          Feasibility studies          Fundraising

SORTIS provides advisory and development services for your real estate properties in Bulgaria. We could determine the feasibility of your development projects, help you obtain financing for their completion and manage the development process. Our expertise includes:

  • Providing you with a reliable valuation of your property based on thorough market research depending on the real estate use, market maturity and future plans for development of the asset. We could help you in obtaining loan financing by providing your lender with reliable opinion on the recovery value of the real estate used as loan collateral or in providing you with valuation needed for financial reporting purposes.
  • Preparing feasibility studies for your undeveloped land plots, which incorporate macroeconomic, location, market and financial analysis in a single comprehensive report to assess and compare the viability of different project development strategies.
  • Assisting you in obtaining financing in order to support a new real estate development or acquire an existing project, including for restructuring distressed properties. We would determine the financial structure, which could include senior loans, mezzanine facilities, bridge financing, acquisition financing, capital increase, etc. We would prepare investment proposals that will summarize the concept of the development, market overview, revenue, and expense projections and expected returns. After finding an investor, we would review and negotiate on the proposed terms and conditions acting in your best interests and advise you on a winning offer.

Our team has substantial experience in structuring and managing regulated and unregulated investment vehicles, both in Bulgaria and internationally, like:

  • Structuring and managing TBI-BAC REIT (now Prime Property REIT), the first Real Estate Investment Trust in Bulgaria, which provided a return to its investors of 73%, realized over a period of 18 months (Oct 2003-Mar 2005).
  • Structuring Bulgarian Land Development, a GBP 40 mln property investment fund, listed on the AIM Market of the London Stock Exchange.
  • Setting up of City Properties REIT and its listing on the Bulgarian Stock Exchange.