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Real Estate and Construction

Our Real Estate and Construction Practice is one of the core areas of practice since the establishment of our firm. A fervent focus on client service and responsiveness is the foundation of our success. Our goal is to be the firm of choice for construction and Real Estate clients with respect to their most complex legal issues, significant business transactions, and critical disputes.

Our client base ranges from small project developers and technical advisers all the way up to the largest contractors and property owners. Our practice encompasses Purchase and Sale Agreements; Eminent Domain/Condemnation; Title Insurance; Construction Litigation regulatory compliance, and operation of large construction and infrastructure projects developed in Bulgaria in the last thirty years.

Our skills:

  • Land and Property Due Diligence;

  • Project Development;

  • Construction Projects;

  • Real Estate Investments;

  • Sales and Acquisitions;

  • Infrastructure Projects;

  • Real Estate Taxes;

  • Financial and Tax Structuring of Real Estate Transactions;

  • Rent and Lease of Real Estates;

  • Regulatory and Statutory Compliance and Approvals;

  • Foreclosure of Mortgages and Pledges;

  • Property Litigation.

Some highlights of our recent real estate experience include:

  • advising Heitman Real Estate Investment Management in all their activities in Bulgaria including in relation to EUR 12 million commercial development project;
     
  • since its establishment in 2005, we act on behalf of Lewis Charles Sofia Property Fund in relation to a wide variety of projects including the acquisition of plots in various areas of the city of Sofia, Dolna Banya, Govedarci, Beli Iskar, Banya, Plovdiv, Bansko, various cities located at the Black Sea advising on all Bulgarian law aspects of the acquisition, including but not limited to property issues and construction law issues, etc. Penev LLP’s real estate lawyers also advise Lewis Charles Sofia Property Fund in a sale-purchase transaction of land plots and apartments;
     
  • provision of advice to Black Sea Property Fund regarding the investments of the fund in Bulgaria, structuring their business, preparation of all related contracts and agreements with their Bulgarian partners, development, and construction issues;
     

  • provision of advice to the US Government (Department of State and its mission to Sofia) on the acquisition and construction of the Embassy complex as well as continuous ongoing advice on various real estate matters, including the acquisition of properties in a residential complex;

  • advice to EBRD on various real estate projects in Bulgaria;

  • advice to Savills in relation to their real estate projects in Bulgaria;
     
  • acting for William Pears Family Holdings Ltd., UK – one of Europe’s largest private real estate developers, on the privatization of the largest real estate company in Bulgaria, established for servicing and accommodating the diplomatic missions and their personnel in Bulgaria;
     
  • Real Estate Due Diligence for a major international port operator on development of a"dry-port"/intermodal logistic facility in Bulgaria;
     
  • provision of advice to the Anglo-American School in Bulgaria regarding the construction of their new facilities and school camps including advice on various contracts with designers, construction company as well as on real estate property issues and rezoning procedures;
     
  • provision of advice to HSBC London on a major real estate project for acquisition and sale of real estate properties in Bulgaria;
     
  • provision of advice Tishmann International Management (UK) in large investment renewable energy project in Bulgaria;
     
  • advice to Waverley a Canada-based private equity capital firm on their investment in 250,000 sq. f. warehouses project in Bulgaria;
     
  • registration of Inditex S.A. builders AncinClima, Metalyeso, Liñagar and Decorga with the Central Professional Register of Builders for the execution of construction works within large shopping malls. On-going advice and assistance regarding construction law compliance;
     
  • provision of advice to T.O.E. London on the establishment of a Bulgarian affiliate company and acquisition of real estate properties for the purposes of constructing a hotel in Bulgaria;
     
  • provision of advice to ADF on their greenfield project in Bulgaria, pertaining to construction and operation of wool-processing facilities, environmental issues and licensing of activity;
     
  • we defended the interests of Black Sea Properties in civil proceedings involving more than fifteen parties for cancellation of a title of ownership;
     
  • we acted on behalf of TEAK with respect to the acquisition of a number of properties located in Sofia, advising on all Bulgarian law aspects of the acquisition, including but not limited to property issues and construction law issues, etc.;
     
  • we acted on behalf of ADF with respect to the sale of real estate properties located in Parvomai, Plovdiv Municipality advising on all Bulgarian law aspects of the acquisition, including but not limited to property issues and construction law issues, etc.;
     
  • provision of advice a large London based Investment Bank on the senior secured trenched loan facility and the Bank’s preferred equity investment Project in Bulgaria;
     
  • provision of advice to Metro Cash & Carry Bulgaria on the establishment and development of retail facilities in Bulgaria;
     
  • provision of advice to Day and Night on finance schemes for acquisition production devices for their factory in Gorna Oryahovitza;
     
  • provision of ongoing advice to one of the largest German retail consumer products companies, Hit Hypermarket, in establishing its business in Bulgaria in relation to the construction of shopping malls in 10 Bulgarian cities;
     
  • acting for Black Sea Properties with respect to the acquisition of large real estate property in the district of Sofia - Bistritsa village;
     
  • acting for Mountain Resorts with respect to the acquisition of land plot and hotel in Velingrad;
     
  • acting for Bankya Estates with respect to the acquisition of plots of land in Bankya, Sofia district;
     
  • acting for Australis with respect to the acquisition of real estate properties at the Bulgarian Black Sea resorts;
     
  • provision of advice to ISG Developments LLC regarding real estate and taxation issues relating to the company’s activities in Borovets and Beli Iskar.