RWM Capital Asset Management closed the deal for purchase of the business-center "Sinop”. This transaction became the largest in the office real estate market of St. Petersburg since the beginning of 2014. Business-center “Sinop” was added to the assets of the closed-end investment fund “RWM Kapitalniy” under management of RWM Capital. The cost of the object amounted to 2 billion Rubles.
“Sinop” is a 9-storey class "A” business-center with total floor area of 21,000.00 m2 located at: St. Petersburg, Sinopskaya Embankment, 22А, within walking distance of the underground station “Ploshchad Alexandra Nevskogo”. The office center is equipped with the most advanced engineering solutions which create comfortable conditions for work and allow the building to function fully irrespective of seasonal community works.
“Office real estate has been for our company one of the principal real estate segments in which we invest the money of funds under our management, - says Sergey Orlov, CEO of RWM Capital Asset Management. – However, our investment interests in this segment were focused on Moscow prior to 2014. We consider the market of St. Petersburg and Leningrad region as one of the priority markets within the framework of strategic plans for expansion of our geographic presence. The project for acquisition of the business-center “Sinop” became our start-up project in the office real estate market of St. Petersburg and we plan to continue our work and increase our presence. Our interests are focused on objects of different purpose not just business-centers. At present we conduct due diligence of several such projects.
“We were attracted by obvious advantages of the project, - says Felix Blinov, Managing Director of RWM Capital Asset Management. – It is located in the center of the city, has good transport availability, was fully completed with proper quality and commissioned and 100% of the area has been leased out to several large companies. This is what ensures reliability of investments, money inflow and, therefore, it attracts investors. At present we are not considering large office buildings in St. Petersburg. We want to see how the office real estate market will develop but we do not rule out the possibility that we will return to this matter in the future”.
“Our company implements efficient and popular projects, - comments Sergey Rusakov, General Director of Plaza Lotus Group. – Interest of the partners and the closed deal for sale of the Business-Center “Sinop” is the best confirmation of that. “Sinop” is one of the most prestigious and comfortable office centers in St. Petersburg and I am sure that the leaseholders will appreciate it soon”.
