Morgan Stanley (USA) (US)Company
Morgan Stanley Real Estate announces first investment in St. Petersburg, Russia (RU/US)
Thursday 29 March 2007
Morgan Stanley Real Estate’s Special Situations Fund III has announced that it has acquired an approximately 25% stake in RBI Holdings, a leading St. Petersburg real estate development company active in the residential and retail sectors. Special Situations made this investment through a dedicated capital increase.
This transaction is Morgan Stanley Real Estate’s first investment in St. Petersburg. Morgan Stanley has had a continuous investment banking presence in Russia since 1994.

Commenting on the transaction, John Carrafiell, Global Co-Head of Morgan Stanley Real Estate Investing, said: “Morgan Stanley Real Estate has a proven track record in identifying opportunities in Russia, having already made pioneering investments in RosEvroDevelopment, a real estate development company that is active in the retail and industrial sectors in Russia, and RGI International Limited, a prime residential developer in Moscow. We believe Russia’s strong economic growth, and its fundamental undersupply of quality real estate provides us with the opportunity to expand our investment platform in St. Petersburg.”

Mr Carrafiell added: “RBI is a fast-growing and entrepreneurial company with an outstanding track record of organic growth. We are excited at the prospect of contributing to its future success through this capital injection, which will be used to invest in several attractive projects in St. Petersburg and other parts of Russia.”

Edward Tiktinsky, the Chief Executive Officer of RBI, said: "The partnership with Morgan Stanley will allow us to continue realization of our strategy not only in St. Petersburg, but also throughout Russia, and to expand our presence in various market segments, including commercial real estate. RBI has already begun searching for land plots for investment projects in other cities. The projects will include multi-use complexes comprised of residential and commercial real estate.”

Source: Morgan Stanley
Print   Send to a friend   Rate   Write comment No ratings for this article
More articles of Morgan Stanley (USA)
More News
Related companies, people, projectsArticles in related categories
  • Commercial Banks / S&L Financing
  • Other Financial Institutions
  • Real Estate Investment
LATEST NEWS
Marazzi + Paul Architekten AG show new design concept for Partizan Stadium in Belgrade, Serbia (RS) The goal and idea of this project development was to plan a new... 9/2/10 11:08
Legal & General launches LPI Income Property Fund (UK) In partnership with Legal & General Investment Management (“LGIM”), Legal &... 9/2/10 10:24
Factory outlet centers European conference, April 7 & 8 2010 in Troyes, France (FR/EU) In an economic situation marked by the slump, the factory outlet market is... 9/2/10 10:05
Danone sells its Warsaw headquarters (PL) Cushman & Wakefield, a global commercial real estate consultant, represented... 9/2/10 09:54
DTZ reports rise in European investment volumes indicates broad based recovery (EU) There are clearer signs of recovery across Europe, as investment volumes... 9/2/10 09:43
Daniel Labbad of Lend Lease appointed Chairman of UK Green Building Council (UK) Daniel Labbad, CEO - Europe, Lend Lease, will today succeed Peter Rogers as... 8/2/10 11:52
UNStudio signs contract for the Dance Palace in St. Petersburg (RU) UNStudio and Grigorjev & Partners LLC have signed the contract with the... 8/2/10 10:35
Early but sporadic signs of recovery, Jones Lang LaSalle issues CEE City Reports Q4 2009 (CEE) Jones Lang LaSalle presents its CEE City Reports for Q4 2009. The CEE City... 8/2/10 10:26
Unibail-Rodamco to acquire Simon Ivanhoe's European portfolio for €715 million (FR/PL) Unibail-Rodamco has entered into an agreement to acquire Simon Ivanhoe for EUR... 8/2/10 10:14
PST moves to ProLogis Park Uzice, with expansion planned (CZ) PST Ostrava, one of the leading Czech logistic and customs services providers,... 8/2/10 10:00
Marco Polo Tower nominated for MIPIM award, 70% of apartments sold (DE) 8/2/10 09:40
DEKA buys on Bordeauxs main shopping street (FR) 5/2/10 12:00
Edinburgh Quay phase 2 sold for €24 million (UK) 5/2/10 11:51
One size fits all? Challenges for budget hotel development in Central & Eastern Europe (CEE) 5/2/10 11:28
European occupier markets display signs of cautious optimism (EU) 5/2/10 11:14
ECE and SES establish exclusive Joint Venture for future projects in Italy (AT/IT) 5/2/10 11:02
H&M to open store in Amsterdams new Oostpoort shopping center (NL) 5/2/10 10:41
Investor survey: green buildings set to become separate asset class (EU) 5/2/10 10:36
London's One New Change overall winner of MIPIM Architectural Review Future Project Awards (UK/EU) 4/2/10 12:34
ING Real Estate European Industrial Fund and Goodman European Industrial Fund Logistics deal (NL) 4/2/10 12:13
 
 
-