BPT Arista acquires shopping centre in Moscow
8 February 2007
Related to
BPT Arista
On 5th February 2007, BPT Arista A/S
real estate investment fund successfully completed the acquisition
of "Shopping Centre Global City" in Moscow, Russia. "Shopping
Center Global City" is a 16,000 square meter shopping centre with
100 well-known international and Russian tenants including
Perekrostok, McDonalds, Adidas, Levi's and Ecco. The average lease
term of current leases is between 3 and 5 years in line with the
current market practise.
The acquisition value of close to EUR
50 million positions BPT Arista A/S as one of the leading
institutional real estate investors in Russia. It also sets a
benchmark for the scale and value of BPT Arista's future
transactions.
The Centre was built in 2001 and is
professionally managed by the former owner who also manages other
retail facilities apart from being the Vice President of the
Russian Shopping Centre Association. "Shopping Centre Global City"
is among the very first retail centres in Russia developed
according to western standards.
The property is well-known for its
excellent location, quality tenant mix, ease of access, and
availability of on-site and near by street parking with yearly
attendance of almost 5 million people.
The property is situated in the South
Administrative District which is a high density residential area of
Moscow less than 400 meters west of Varshavskoye Shosse, one of the
main arterials leading from the city centre to the south of Moscow.
The property is within 100 meters of Yuzhnaya Metro station, which
has a daily rider count of over 47,000 people.
Fund Manager Mr. Vojkan Brankovic
comments on the acquisition: "This transaction in Moscow is a new
landmark in our strategy to acquire and manage first class
properties that are stabilised and provide a direct return to our
investors. The deal was achieved by BPT acting as a true local
investor by having a dedicated Russian team in place. I am
delighted that we have acquired a shopping centre that is well
managed and I have confidence in developing a long and trusting
relationship with Property Management Company Ltd. who will remain
the property and facilities manager of the centre".
Vojkan Brankovic continues: "Global
City will provide a return to our investors above market level in
2007. The yield will benefit from a positive economic environment
with the Russian CPI estimated at between 6.5%-8% in the coming
years. BPT Arista A/S' objective is to have a total portfolio of
EUR 200 million by the end of 2007 and some EUR 400 million by
2009. The fund still accepts commitments from new investors".
For more
information please contact:
Investor Relations
Phone (+45) 33690733
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