Bulgaria: Schoenherr advises Queisser Pharma on acquisition of new office space in Sofia

Queisser Pharma Bulgaria EOOD (Queisser Pharma) has found a new home on nearly 1,000 m² of office space in a business centre located in the Studentsky region in the southwest of the capital Sofia. The Seller, Tremont EOOD (Tremont), had bought the business centre during the previous owners' insolvency procedure and has recently re-developed the distressed property. Schoenherr advised Queisser Pharma Bulgaria on all legal aspects of the acquisition.

"The COVID pandemic has resulted in a drop in demand for office spaces and this has been one of the very first office space asset deals in Bulgaria since 2020," commented Elena Todorova, who led the team advising Queisser Pharma. "Despite the complex property history, this acquisition marks a strong start to the year for real estate in Bulgaria, and we hope that it will contribute to the revival of the local office space market."

Queisser Pharma is one of the leading pharmaceutical companies in Germany, with over a century long history. The company has established itself in more than 50 countries around the world, including Bulgaria, and gained a leading position in the food supplements sector with market-leading brands such as Doppelherz, Protefix and Alpecin. The year 2021 marked a cornerstone for Queisser Pharma's most popular product Doppelherz, as it celebrated its 100th year on the market, ranking in the top five of over-the-counter products in Germany and becoming the favourite brand of Bulgarian consumers for the fourth time in a row.

Founded in 2016, Tremont is a real estate developer investing in the construction, sale, purchase and management of real estate properties in Bulgaria.

The Schoenherr team was led by Elena Todorova (attorney at law) and further included Dimitar Vlaevsky (attorney at law).

Tremont was advised by Ivaylo Chavdarov (attorney at law).