Real Estate Fund Bulgaria signs a 6,800 sq m lease in Synergy Tower at Sofia Tech Park

Real Estate Fund Bulgaria (BREF), a listed real estate investment trust, has signed a five-year lease with Beti Technology for 6,813.77 square metres of office space in Synergy Tower at Sofia Tech Park, the company said in a filing with the Bulgarian Stock Exchange, Investor.bg reported on 20 October.

The lease will take effect in the second quarter of 2027 and brings the occupancy rate of Synergy Tower to 82.59%.

The fund has also signed an addendum with CC Smart Solutions to extend its lease of 444.3 square metres in Office Building 1 at Business Park Sofia for a further four years. Occupancy in that building remains at 67%.

Synergy Tower and Office Building 1 are now the fund's main assets. In June 2026 BREF sold the Kambanite business centre in Sofia for EUR 17 million, and at the end of 2025 it completed the sale of the property housing a Mr. Bricolage store on Tsarigradsko Shose boulevard for EUR 18 million.

Shareholders voted a gross dividend of EUR 0.225 per share at a general meeting on 5 October 2026, paid from retained earnings of previous years. The total payout is EUR 7,805,615.63. According to Investor.bg, retained earnings stood at EUR 28.7 million and cash at EUR 30.2 million at 30 June 2026, while current liabilities were EUR 14.3 million and profit for the first half of the year was EUR 3.7 million.

BREF shares have fallen 0.63% over the past 12 months to EUR 2.54, giving the company a market capitalisation of EUR 88 million, although shareholders have also received dividends over that period.

For the Sofia office market, a single lease of almost 7,000 square metres signed well ahead of its start date shows that some tenants are planning space needs into 2027. Investor.bg noted that its report is for information only and is not a recommendation to buy or sell securities.