Equest Balkan Properties (EPB) has announced the sale of its City Center Sofia Mall, a 23,000-m[sup]2[/sup] retail mall located in Bulgaria's capital city, to Heitman European Property Partners III for EUR 101.5 mln. The sale price is in line with valuation by CB Richard Ellis in June 2008 and represents a premium over the March 2006 acquisition price of EUR 94 mln, according to the statement.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
