Prime Property

What Prime Property does

Prime Property BG REIT (Прайм Пропърти БГ АДСИЦ) is a publicly traded Real Estate Investment Trust incorporated in Bulgaria and listed on the Bulgarian Stock Exchange under the ticker TBIRE. Established in 2008 as one of the first REITs in the country, it operates as a closed-end investment vehicle using the ADSCI legal form (Акционерно дружество със специална инвестиционна цел), which under Bulgarian law exempts it from corporate income tax. The company maintains its headquarters at Damyan Gruev 1 Str., office 5, in Sofia, Bulgaria.

The company's product is its diversified Bulgarian real estate portfolio, which spans office and commercial properties, gated vacation communities, and residential buildings, with assets intended to deliver returns through both rental income and capital appreciation. There are no underlying software platforms, AI components, or technology products disclosed; the "technology" is the statutory REIT wrapper itself and its associated regulatory and tax framework. Capital is sourced through the public equity market on the BSE, with shares accessible via licensed investment intermediaries; the company completed a BGN 33 million capital raise, bringing approximate capitalization to BGN 56 million.

The go-to-market model is fundamentally sales-led via the public exchange: there is no direct sales team, marketing channels, or product modules beyond the single listed security. The shareholder base is highly dispersed (97% public to 3% private), with multinational strategic investors from Western Europe (43%), Scandinavia and the Baltic countries (10%), and the UK/USA (17%). Management comprises a Board of Directors including representatives of POBEDA PLC and DELTA FOOD LTD, supported by a Legal Issues and Investor Relations Director. Revenue mechanics are typical for a REIT — recurring rental cash flow from the underlying properties supplemented by episodic gains on property sales — though no specific revenue, NAV, or rental income figures are disclosed in the available source material, and the most recent corporate reference is the April 4, 2016 Annual General Meeting.

Name

Prime Property

Legal name

Прайм Пропърти БГ АДСИЦ

Website

https://primepropertybg.com

Company type

Public

Operating status

Operating

Headcount range

11–50 employees

Short description

Prime Property BG REIT is a publicly traded Bulgarian Real Estate Investment Trust (BSE: TBIRE) that gives retail and institutional investors diversified exposure to Bulgarian office, commercial, residential, and vacation properties via a tax-advantaged REIT structure.

Ownership category

akta.pro rank

Product category

Real Estate Investment Trust (REIT)

NAICS

Other Financial Vehicles (52599), Other Financial Vehicles (525990)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

Real Estate Funds — Core (Stabilized, Income) (FSANAEAF)

akta.pro secondary industries

Real Estate Funds — Core-Plus (FSANAEAG), Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

Keywords

• Real estate investment trust
• Bulgarian REIT shares
• Commercial property investment
• Residential property portfolio
• Vacation community investment

Headquarters

HQ city

Sofia

HQ country

Bulgaria

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Rental and Capital Income from Property Portfolio: As a REIT, Prime Property generates returns through rental income from its diversified property portfolio (office, commercial, residential, and gated vacation communities) and capital appreciation from property sales.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Prime Property BG REIT is a publicly traded Real Estate Investment Trust (REIT) on the Bulgarian Stock Exchange (ticker TBIRE) that invests in and manages a diversified portfolio of Bulgarian real estate, including office, commercial, residential, and gated vacation community properties. The company generates returns through rental income and capital appreciation from these property assets, distributing outcomes to shareholders via a tax-efficient REIT structure governed by Bulgarian law. Shares can be purchased by any interested investor through licensed investment intermediaries.

Product overview

Prime Property BG REIT is a Real Estate Investment Trust (REIT) that operates as a single, unified investment vehicle rather than a platform with multiple modules. The company functions as a closed-end investment fund focused on the Bulgarian real estate market, providing shareholders exposure to diversified property assets including office and commercial properties, gated vacation communities, and residential buildings. The REIT is listed on the Bulgarian Stock Exchange (BSE, code TBIRE) and is governed by local REIT legislation, offering tax benefits as REITs are not subject to corporate income tax.

Differentiator

Problem solved

Functional benefit

Products and services

• Prime Property BG REIT Shares (BSE: TBIRE) Publicly traded shares of Prime Property BG REIT on the Bulgarian Stock Exchange (ticker TBIRE). Each share provides proportional exposure to the REIT's diversified Bulgarian real estate portfolio — comprising office, commercial, residential, and gated vacation community properties — with tax-efficient returns under Bulgarian REIT legislation. Shares can be purchased by any interested investor through licensed investment intermediaries.

Quantifiable outcome

• Diversified portfolio across office, commercial, residential, and gated vacation communities
• +1 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Central Depository AD (CDAD)coreOthersCentral Depository AD (CDAD) was set up as a joint stock company in 13 August 1997 under art. 91 of the Law on securities, stock exchange and investment brokers. Shareholders of CDAD are leading Bulgarian commercial banks. The Bulgarian National Bank and the Finance Ministry exert direct control over CDAD as provided for in Ordinance No 19. CDAD manages the daily activities and operates as the central securities depository for the Bulgarian Stock Exchange.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Regional players

• Globalworth Real Estate Investments: Globalworth is a leading real estate investor and operator focused on office properties in Central and Eastern Europe (Romania, Poland, Hungary). Comparable as a CEE-focused real estate investment platform, though larger in scale and operating in non-Bulgarian geographies.
• Immofinanz AG: Immofinanz is a Vienna-listed commercial real estate company with retail and office properties across CEE. Comparable as a publicly listed real estate vehicle serving the same broader CEE market, though operating at much larger scale and with broader geographic footprint.
• CA Immobilien Anlagen AG: CA Immo is a Vienna-listed real estate investment and development company focused on office properties in Austria, Germany, and CEE. Comparable as a publicly listed real estate investment vehicle operating in neighboring CEE markets, though with materially larger scale.

Broad incumbents

• Equity Residential: Equity Residential is a large US S&P 500 REIT focused on multifamily residential properties. Comparable as a publicly listed REIT providing investors liquid exposure to residential real estate, though operating at vastly different scale and geography.
• AvalonBay Communities: AvalonBay is a major US REIT focused on multifamily rental housing. Comparable as a publicly listed REIT providing liquid exposure to residential rental real estate, though at dramatically larger scale and operating exclusively in the US market.

Direct peers

• Advance Terrafund REIT: Advance Terrafund is a Bulgarian REIT (АДСИЦ) listed on the Bulgarian Stock Exchange that invests in agricultural and rural land. It is the closest direct peer to Prime Property BG REIT given shared Bulgarian REIT structure, BSE listing, and tax-exempt status under domestic REIT legislation.
• Z Properties Investment Fund REIT: Z Properties is a Bulgarian REIT (АДСИЦ) focused on Bulgarian real estate assets and was even previously involved with a member of Prime Property's management team. Direct comparable on Bulgarian REIT structure, asset class, and BSE listing.
• Elana Agro Land REIT: Elana Agro Land Fund is a Bulgarian REIT listed on the BSE that pools capital for real estate (primarily land) investments. Directly comparable as a domestically domiciled REIT under Bulgarian law, sharing tax treatment and listing venue with Prime Property BG REIT.

Market position

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/prime-property-bg-reit

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prime Property