Bravo Sky: A New Sustainable Milestone with EUR 88 Million Finance from DSK and OTP Banks
Deal News | May 29, 2025 | CEE Legal Matters
In a significant move for sustainable commercial development in Bulgaria, law firm Wolf Theiss has successfully advised DSK Bank and OTP Bank on securing EUR 88 million in real estate financing for the Bravo Sky commercial development project in Sofia. Bravo Sky, set to become a landmark for green building initiatives in the region, has an investment volume of approximately EUR 120 million and boasts a development area exceeding 71,500 square meters. Lex Locus provided legal support to the borrowers, while the Wolf Theiss advisory team included distinguished legal experts such as Partners Katerina Kraeva, Radosveta Kojuharova, Counsel Katerina Novakova, and Associate Ivan Ivanov. The project reflects a growing trend towards environmentally sustainable construction practices in the European commercial real estate sector.
Sectors
- Commercial Real Estate
- Green Financing
Geography
- Bulgaria – The Bravo Sky commercial development project is located in Sofia, Bulgaria, making this the primary geographical focus of the article.
Industry
- Commercial Real Estate – The Bravo Sky project is a major commercial real estate development involving significant construction and financing activities.
- Green Financing – The EUR 88 million provided by DSK Bank and OTP Bank for Bravo Sky is earmarked as 'green financing,' supporting environmentally sustainable development.
Financials
- EUR 88 million – The total amount of green financing provided by DSK Bank and OTP Bank for the Bravo Sky development.
- EUR 120 million – The total investment volume for the Bravo Sky development project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bravo Sky | Target company | Company | A commercial development project in Sofia, Bulgaria, aimed at creating a sustainable development with an investment volume of EUR 120 million. |
| DSK Bank | Lender | Company | A major bank in Bulgaria, providing part of the EUR 88 million green financing for Bravo Sky. |
| OTP Bank | Lender | Company | A major bank in Hungary, collaborating in the EUR 88 million financing of the Bravo Sky project. |
| Lex Locus | Legal advisor to borrowers | Company | A legal advisory firm representing the borrowers in the financing deal. |
| Wolf Theiss | Legal advisor | Company | A prominent law firm advising DSK Bank and OTP Bank on the financing transaction. |
| Katerina Kraeva | Partner | Person | Partner at Wolf Theiss, involved in advising on the financing deal. |
| Radosveta Kojuharova | Partner | Person | Partner at Wolf Theiss, part of the legal team advising on the transaction. |
| Katerina Novakova | Counsel | Person | Counsel at Wolf Theiss, contributing to the legal advice for the financing deal. |
| Ivan Ivanov | Associate | Person | Associate at Wolf Theiss, involved in providing legal advice for the transaction. |