Salans advises UFG Real Estate on US $47 mln sale of Bakhrushina House to Sponda (RU)
Tuesday 26 June 2012
Salans Moscow has advised UFG Real Estate on the sale of the Bakhrushina House office building in downtown Moscow for US $47 mln to the Finnish investment group Sponda.
Bakhrushina House is located at 32 Bakhrushina Street, at the intersection of the Garden Ring and Bakhrushina Street. The building was completed in 2002 and totals more than 5,000 m² of fully-rented office and retail premises.
The transaction was led by Moscow senior associate Sergey Trakhtenberg with the assistance of Moscow associate Sergey Shishkin.Florian Schneider, Moscow Managing Partner and the Relationship Partner for UFG Real Estate, commented:
"In 2010 we assisted our long-standing client, UFG Real Estate, in the acquisition of Bakhrushina House from Akron Group, which is believed to be the first investment transaction on the Moscow real estate market made between two investment funds after the 2008 downturn.
"Now we are delighted to have assisted UFG again on a successful sale of this property to Sponda. This transaction is yet more evidence of the strength of Salans’ Russian real estate practice."