Immoeast Immobilien Anlagen AG, a Vienna-based real-estate developer, plans to invest some of the funds raised, by a EUR 3 bln capital raise, in Bulgarian properties, news agency Bloomberg reported on Feb 28. Immoeast said it is discussing the placing with some international banks and should confirm the hires by the end of the week. The funds will be spent on expansion in Austria and Eastern Europe. Immoeast is intent on making a play for the Bulgarian real estate market and is already analyzing 2 projects, said Alex Bebov from Prime Property BG REIT wherein the Austrian company controls 42%. Prime Property will act as co-investor in Immoeast's projects in Bulgaria.