Metropolis shopping center acquired the Armenian investment fund Balchug Capital
One of the largest shopping and entertainment centers in Moscow, Metropolis, has changed its owner, and the Armenian investment fund Balchug Capital has become the new owner. The amount of the transaction was not disclosed, Vedomosti writes.
Built in 2009 by the Kazakh developer Capital Partners, the shopping and entertainment center with an area of 205 thousand square meters. meters was sold in 2012 to Hines and Morgan Stanley for $1,2 billion, then it was the largest transaction in the Russian real estate market in its history.
At the time of the deal with Balchug Capital, American Hines was already the sole owner of the mall. The deal was approved by the government commission for monitoring foreign investment in the Russian Federation. The deal was advised by IBC Real Estate.
Balchug Capital (formerly Copperstone Capital) was founded in 2010 by David Amaryan, who had previously worked for Ruben Vardanyan's Troika Dialog. In early March, the fund also acquired the Pulkovo Sky business center in St. Petersburg from the Finnish EKE Finance Oy and Vicus Oy.
One of the largest shopping and entertainment centers in Moscow, Metropolis, has changed its owner; the Armenian investment fund Balchug Capital has become the new owner. The amount of the transaction was not disclosed, they write ...
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