Green Wood Hotel, Razlog, Bulgaria
Excelion started sales of apartments at the property for about 1400 €/sq.m, while the market price is about 850 €/sq.m. But the company promised to the buyers the fixed rental payments providing a 7% yield on their investment. The company succeeded in selling 15 apartments this way. Afterwards it increased the prices to 1500-1700 €/sq.m, and the sales stopped.On 15 July Excelion failed to pay the rental payments for the 1st six months of 2024, as it obligated according to the rental agreements signed by Nemirovsky personally.
- Property Owner: Vladislav Nemirovsky via AMK - BUILD
