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Commercial real estate

Strategic consulting company for commercial real estate.

Acquisitions and sales, investment transactions, leasing and asset management — your trusted partner for commercial real estate. We also work with quality residential projects on selected mandates.

“Pactum” EOOD - Strategic consulting company for commercial real estate.

What we do

One trusted partner
for the entire process.

01

Acquisitions, sales and investments

We consult buyers, sellers and investors on acquisitions, sales and investment transactions with commercial real estate – office, industrial and logistics properties, retail properties, hotels and land plots, including in land plot development and asset repositioning.

02

Leasing and representation

We represent landlords and tenants of office, industrial, logistics and retail properties.

03

Financing and management

Bank financing for acquisitions and development. Asset and property management.

Services

From the strategic decision
to the final result.

We cover the entire spectrum of the real estate mandate – from the strategic decision and the investment transaction, through the asset leasing and management, to the coordination of technical and legal expertise. Our main focus is on commercial real estate – office, industrial, retail, hotel assets and land plots. We also work with quality residential projects on selected mandates.

Acquisitions, sales and investment transactions with commercial real estate

Consultations for acquisitions, sales and investment transactions with commercial real estate

We consult buyers, sellers and investors on acquisitions, sales and investment transactions with commercial real estate – office, industrial, logistics, retail properties, hotels and land plots, including in land plot development and asset repositioning.

We structure the transaction from the very beginning and lead the entire process at all stages – from the initial analysis to the successful completion. We coordinate all participants in the process – lawyers, expert appraisers, banks and other specialists – as a single point of management of the mandate.

We also work with sale & leaseback structures — when the owner of an asset wants to free up capital by selling the property, while remaining in it as a tenant under terms agreed in advance.

We know the market from our real work experience. When we are searching for a buyer for your asset, we know exactly who to turn to. If you are looking for an asset to acquire, we will offer you suitable opportunities according to your criteria — with the necessary information so that you can make the best decision for your investment.

We know both market assets and off-market opportunities — we work discreetly, without unnecessary publicity, entirely in the interest of the customer.

  • Market analysis and asset price positioning
  • Structuring the transaction
  • Asset presentation — through a targeted marketing campaign or completely off-market
  • Conducting negotiations
  • Coordination of all participants in the process until the transaction is completed
  • We work with office, industrial and logistics properties, retail properties, hotels and land plots

Leasing and representation

Consultations and representation in renting commercial real estate

We represent landlords and tenants of office, industrial, logistics and retail properties.

For landlords: we position your asset in front of the suitable tenants, negotiate terms that ensure stable and long-term income, and monitor market dynamics so that you can stay competitive. The objective is not just to find a quick tenant — but the right tenant under the right terms and conditions.

For tenants: we find the space that really meets the needs of your business — not just with regard to the budget, but also the location, specification and future development. We negotiate all terms and conditions of the contract, not just the leasing price.

  • Representation of landlords
  • Representation of tenants
  • Market analysis and asset positioning
  • Identification and selection of tenants or suitable properties
  • Negotiating all the terms and conditions of the contract
  • We work with office, industrial, logistics and retail properties

Land plots — acquisitions, sales and development

Consultations in acquisitions and sales of land plots

We consult owners, investors and entrepreneurs in the acquisition and sale of land plots for industrial, logistics, retail, office and residential development.

The acquisition or sale of a land plot determines the framework for everything that follows — from what can be built on it, to the speed of implementation and the real potential for value. We analyze the urban spatial zoning plan status, the infrastructural availability and the real potential for development before entering into negotiations.

We also work on build-to-suit projects — when a tenant or buyer is looking for an object built according to their specific requirements. We consult on land plot selection, project parameters and structuring of the transaction.

We find the right land plots for your projects or the appropriate buyers for your land plot — based on real understanding of what can be built on the specific terrain.

  • Analysis of urban spatial zoning plan status and potential for development
  • Acquisitions and sales of land plots for all types of development
  • Assessment of infrastructure availability and transport access
  • Conducting negotiations and structuring the transaction
  • Coordination with specialists at an early stage

Residential projects

Consultations in acquisitions and sales of residential properties

“Pactum” EOOD works with residential projects under selected mandates. We consult investors and entrepreneurs in sales of quality residential projects, as well as private individuals in the acquisition of residential property with investment or personal value.

Our approach to the residential market is the same as to commercial real estate – in-depth knowledge of the asset, realistic market valuation and full commitment until mandate completion.

  • Consultations in sales of residential projects
  • Consultations in the acquisition of residential properties
  • Market analysis and price positioning
  • Asset presentation and work with buyers
  • Coordination of all participants in the process until completion

Bank financing

Consultations in structuring and raising bank financing

We consult investors, entrepreneurs and owners in structuring and raising bank financing for acquisitions, project development and refinancing of existing debt.

We prepare the credit file in the correct format and with the necessary content. We communicate directly with banks and optimize the conditions for the customer’s benefit — interest rate, LTV, collateral and time terms. We coordinate the process with legal and other professionals — as a single point of management of the mandate.

  • Structuring of financing
  • Preparation of a credit file
  • Direct communication with banks
  • Optimisation of conditions
  • Refinancing of existing debt
  • Coordination with legal and other specialists

Asset management and property management

Strategic and operational management of commercial real estate properties

We manage commercial real estate properties on two levels — strategic and operational — depending on the needs of the owner and the specifics of the asset.

Asset management: we analyze the performance of the asset or portfolio against the investment objectives, identify untapped potential and develop a strategy to maximize value.

Property management: we take over the operational management of the real estate property – tenancies, technical maintenance, control of expenses and financial reporting. The owner receives regular and transparent information without having to deal with daily operational matters.

  • Strategic analysis and business plan for the asset
  • Management of tenancy relations and renewals
  • Control of operating expenses
  • Technical maintenance and coordination of suppliers
  • Financial reporting — income, expenses, cash flows
  • Optimisation of net operating income

Repositioning and changing the purpose designation

Strategic analysis of aging or underperforming assets

Not every underperforming asset should be sold. Repositioning — changing the purpose designation, renovating the concept, or redirecting to another type of use — is often the more profitable way forward.

We analyze the asset against real market indicators, establish where and why value is being lost and develop specific scenarios with clear financial logic. Every scenario comes with an estimate of the required investments and an estimated timeframe for its implementation.

At the request of the customer, we also coordinate the specialists for implementation of the selected plan.

  • Evaluation of the current performance and potential of the asset
  • Analysis of alternative use and change of the purpose designation
  • Scenario modelling with financial evaluation
  • Coordination of the specialists on implementation

Hotel assets and operator selection

Consultations in acquisitions, sales and management of hotel assets

We consult buyers, sellers and owners of hotel assets — from boutique city hotels to resort projects. We know the hotel investment market in Bulgaria and the regional context.

The hotel sector requires specific expertise — decisions are driven not only by location and number of square meters, but also by the operating model and asset positioning in the market.

For owners looking for an operator — we assist in identifying a suitable partner and negotiating a management or franchise contract, by protecting the owner’s long-term rights over the asset.

  • Acquisitions and sales of hotel assets
  • Consultations in the repositioning of a hotel asset
  • Assistance in selecting a hotel operator
  • Negotiations on management and franchise contracts

Project design and project management

Coordination of the design and implementation of investment projects

We coordinate the design and implementation of investment projects — new construction, reconstruction and change of purpose designation. We work with vetted architects, engineers and builders, tailored to the specific project and the investor’s requirements.

Our role is to provide a single point of process management — control of budget and deadlines, coordination between specialists and regular reporting to the investor.

  • Coordination of architectural and engineering project design
  • Budget management and estimated deadlines
  • Coordination between architects, engineers and contractors
  • Regular reporting to the investor

Technical and legal due diligence

Technical and legal analysis before acquisition and during property management

We coordinate the technical and legal analysis of the asset — in partnership with experienced architectural and engineering offices and established law firms.

Technical due diligence: a thorough assessment of the technical condition of the asset — building construction, engineering systems and infrastructure, compliance with the project design documentation, required investment for maintenance and improvements. This is performed before acquisition, when refinancing or during the course of asset management.

Legal due diligence: a comprehensive review of the legal status of the asset – ownership and chain of transfers, encumbrances, mortgages and established rights, regulatory and urban spatial zoning plan status, compliance with permits and construction documents, tenancies and contractual commitments, environmental and administrative risks. The report contains legal conclusions, risk assessment and specific recommendations.

Our role is to coordinate both processes simultaneously and in a synchronized manner with the rest of the transaction — so that you can receive two structured reports with clear conclusions and recommendations.

  • Technical inspection and assessment of the asset’s condition
  • Valuation of required investments and a maintenance plan
  • Compliance of implementation with the project documentation
  • Verification of ownership, chain of transfers and encumbrances
  • Regulatory and urban spatial zoning plan status
  • Tenancy relations and contractual commitments
  • Environmental and administrative risks
  • Legal conclusions, risks and recommendations
  • Two structured reports — technical and legal

Market valuations and analyses

Market valuations and analyses for investment decisions

We provide market valuations and analyses in partnership with licensed expert appraisers — for investment decisions, bank financing or internal portfolio analysis.

Our role is to coordinate the process and provide the market context from our experience — for a valuation aligned with market reality.

  • Market valuations for investment decisions
  • Valuations for the purposes of bank financing
  • Analysis of the highest and best use of the asset
  • Analysis of the investment expediency (feasibility study) for new projects
  • Market analysis by segments and locations

Legal services

Legal assistance in real estate transactions and management

For legal expertise, we work with trusted law firms possessing proven experience in the field of real estate. The legal aspects of real estate transactions are complex and specific — from structuring acquisitions and rental contracts to regulatory issues and corporate structuring. We refer customers to the right specialist according to the mandate specifics and coordinate the legal process as part of the overall management of the mandate.

  • Legal consultations in acquisitions and sales
  • Preparation and review of contract documentation
  • Regulatory and urban spatial zoning plan issues
  • Corporate structuring for investments

Specialised mandates

Consultations for specific and non-standard projects

We also work on mandates that go beyond the standard categories — specialised assets such as data centres, mixed-use projects, institutional and other specific assets.

Each such mandate is considered on an individual basis.

  • Data centres and specialised technical infrastructure
  • Mixed-use projects with a complex structure
  • Institutional and special assets
  • Individual approach to each non-standard case

How we work

Clear process,
full commitment.

Work in the customer’s interest

The customer’s interest is our only guide in every mandate entrusted to us.

Focus and commitment

We work with selected mandates. Each customer receives full attention and commitment — from the first conversation to the final result. One trusted partner throughout the entire process.

Confidentiality

The information on customers and mandates is strictly confidential. Always.

„Pactum“ EOOD

About the company

“Pactum” EOOD

“Pactum” EOOD is a consulting company for commercial real estate created for customers that consider the real estate decision as a strategic matter. For them, the real estate property is not just square meters of area or an address — it is capital, risk, opportunity, operating environment or part of a larger investment strategy. We work with mandates where reputation, discretion and quality of judgment have real weight.

We work with investors, entrepreneurs, asset owners and corporate customers in acquisitions, sales, investment transactions, rentals, asset management and bank financing. When the mandate requires it, we also coordinate specialized services — technical and legal analysis, market valuations and project management — providing a single point of management for the entire process. We also work with quality residential projects under selected mandates.

Each mandate receives our full attention — from the first conversation to the final result. We bring real market expertise built from working with assets from all segments of the real estate market, corporate and institutional investors, banks, participants in the investment process, negotiation processes and successfully completed transactions — not just from public data and statistics.

“Pactum” EOOD is backed by proven experience in complex high-stakes real estate mandates. We work in a discreet and committed manner, with a clear position in the customer’s interest. Confidentiality is not just a declaration. It is a way of doing business.

„Pactum“ EOOD

About us

Anastasia Tsolova

Founder and Managing Director, “Pactum” EOOD

Anastasia Tsolova possesses extensive professional experience in commercial real estate — investment acquisitions and sales, strategy for real estate portfolio management and sales, asset management and financing.

She has held management positions in specialized investment companies, international consulting structures and specialized banking companies for the acquisition, management and sale of real estate, where she has advised institutional and private investors, banks, entrepreneurs and corporate customers on sales, acquisitions and asset management in the office, industrial, logistics, retail and hotel segments, including rental transactions with key corporate tenants.

Her experience encompasses the management of over 180,000 sq.m. of assets — office, retail, industrial and hotel real estate properties — and participation in transactions with a total value of more than 250 million euro. Her experience includes work on investment sales and acquisitions, bank financing and asset management, repositioning of distressed assets — including in complex and sensitive cases with high financial, legal and reputational stakes.

“Pactum” EOOD has been created as a natural continuation of that experience – with a focus on selected mandates, clear process and commitment at each key phase.

15+

years of experience

180 000+

sq.m. of managed assets

250M+

euro of transactions

„Pactum“ EOOD

About us

Asen Mitrev

Manager, Research and Business Development

Asen Mitrev has nearly ten years of professional experience in commercial real estate, spanning asset management, market analysis, investment transactions and complex advisory projects.

His professional background includes managing a regional shopping center and real estate portfolios on behalf of international investors, contributing to commercial due diligence assignments, and participating in investment sales processes involving major commercial properties and portfolios. He has also worked on the development of lease management solutions, as well as location and competitive analyses for corporate clients with extensive site networks.

At Pactum, he is responsible for market research and business development, contributing to the identification of investment and transaction opportunities, the analysis of assets, markets and potential counterparties, and the preparation and execution of the company’s advisory mandates.

„Pactum“ EOOD

About us

Eng. Velislav Mihov

Chief Technical Adviser

Eng. Velislav Mihov has over 25 years of professional experience in building design and structural engineering. He holds full professional design certification and is licensed to carry out independent structural design checks.

In 2004, he co-founded the Mihov & Petkov Structural Engineering Bureau, whose work encompasses the comprehensive design of residential, office, retail and industrial buildings and facilities, structural surveys, strengthening and refurbishment designs, technical control, and designer’s supervision during construction. His professional experience also includes technical due diligence of existing buildings and advice on complex technical matters.

At Pactum, he provides technical expertise across the company’s mandates, including acquisitions, disposals, development and repositioning of real estate assets. He contributes to assessments of the technical condition of assets, project documentation, structural risks and the technical feasibility of proposed investment solutions.

„Pactum“ EOOD

About us

Daniel Vuchkov, Attorney-at-Law

Chief Legal Counsel

Daniel Vuchkov is an attorney-at-law with over ten years of professional experience in corporate and commercial law, litigation and legal advice to corporate clients and financial institutions. He has been a member of the Sofia Bar Association since 2015. Following many years at a leading Sofia law firm, in 2026 he founded Vuchkov & Partners, where he leads his own legal practice.

He specialises in the legal structuring and legal due diligence of complex transactions involving real estate, investment companies and corporate structures. Over the past eight years, he has provided legal advice on transactions and other commercial matters with an aggregate value exceeding EUR 120 million, including real estate acquisitions and disposals, corporate restructurings, and projects with a high degree of legal and financial complexity.

At Pactum, he advises on the legal structuring of transactions and the analysis of legal risks under the company’s mandates, with a focus on protecting investment interests and ensuring legal certainty at every key stage of a transaction.

Contacts

Discuss
your case.

If your case requires a serious and trusted partner, we will be happy to learn more.

Email:

office@pactumbg.com

Address:

“Tsar Osvoboditel” Blvd., No. 14, Sofia 1000

LinkedIn:

“Pactum” EOOD

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