BPT Arista acquires Country Park Business Centre in Moscow
18 June 2008
Related to
BPT Arista
The Baltic Property Trust Group (BPT)
has secured its third real estate transaction in Russia with the
acquisition of phase 1 of Country Park business centre in Moscow,
Russia. The acquisition is part of the activities of the
Russia-focused BPT real estate investment fund, BPT Arista S.A.
SICAV-SIF.
Country Park is an 18 storey business
centre with a gross area of 19,530 sq m. The current tenant list of
the property includes strong names like SC Johnson, Yokohama,
Nokian Tyres, Nutricia and others. Moreover, the property hosts the
Russian headquarters of the BMW Group and Volvo.
The acquisition also sets a benchmark
for the scale and value of BPT Arista's future transactions. In
addition, the fund has an option to acquire a second phase of
"Country Park" - a 7 storey office and residential building, which
would add another 11,400 sq. meters to the Fund's portfolio. The
developer is also planning the development of a third phase - a
hotel.
"Country Park" is situated in the
district of Khimki, a rapidly developing business and residential
area of the Moscow Region. The business centre is well integrated
and connected into the metropolitan and regional transport systems.
It is located very close to the Moscow - Saint-Petersburg high-way,
the key link between Russia's two biggest metropolitan cities; the
MKAD (the Moscow ring-road) and only 10 km away from the
Sheremetyevo international airport. A shuttle-bus service is
operated to connect Country Park with nearby Planernaya-Metro
station.
The business centre was built in 2004
and is professionally managed by the developer and former owner. It
is widely considered one of the best offi ce buildings outside
Moscow's city centre: strong international and well-known Russian
tenants, professional property management, excellent location,
ample parking capacity, a professionally developed concept and
design, and institutional quality triple-net lease agreements.
Through its investment fund BPT Arista
S.A. SICAV-SIF, BPT is one of the leading institutional real estate
investors in Russia. General Director and Partner of BPT Asset
Management Russia, Mr. Pavel Cherepanov comments on the
acquisition:
"This acquisition has signifi cant
importance for the Fund and is in line with our strategy of
investing in high quality real estate projects, which bring stable
income and provide for high dividends to our investors. To that
extend, Country Park has exactly the kind of uniqueness and quality
we are looking for."
For more information on this
transaction, BPT Arista or other BPT real estate funds in general,
please contact:
Ilya Kutnov
Acquisition Manager
Phone: +7 495 9564225 ext. 335
Download press release
