Apartment house Sequoia II – Borovetz

At the end of 2007 BREF aquired a luxury apartment house Sequoia 2 in Borovets. The property is part of Apartment complex “Sequoia Borovets” and is situated in the oldest ski resort on the Balkan Peninsula – Borovets. The resort itself is located at 60 km to the south of Sofia and only 60 minutes away by car from the International Airport in Sofia. It offers great opportunities for winter and summer activities. The Sequoia complex is situated close to a picturesque pine forest within walking distance of the very centre of the resort and only 50 meters from the bottom Station of New Gondola which will be part of SUPER BOROVETS project. The Sequoia 2 building consists of 36 apartments situated on 5 floors and 9 garages. There is a great choice of apartments with a variety of rooms and sizes. Floorage varies between one bedroom and two bedroom apartments. The total built-up area of the apartment house is 3,527 sq.m. The construction works of the building are completed and a permission for use was granted in November 2007. The total investment is EUR 2.23 million or EUR 631 per sq.m. built-up area. Since the start of the sales process BREF has sold seven apartments. In regards to the rest of the sales and in the light of the coming winter season BREF plans active advertising campaign which will reinforce the efforts of the Fund to realize the building.