ACQUISITION OF SC “VOROBYOVY GORY” AND CONSOLIDATION OF OWNERSHIP OF SEC “FAVORIT”
Investment company “Platforma” announces a new addition to its assets portfolio with one more project – the Shopping Center as a part of the residential complex “Vorobyovy Gory” in Minskaya street (formerly known as “Versal”), as well as the additional purchase of the remaining 50% of the project “Favorit”.
In early 2015 “Platforma” has acquired the rights of claims of PJSC “BANK URALSIB” in respect of a debt secured by real estate object – the shopping center with the total area of 30,000 sq. m., located in the podium of the residential complex “Vorobyovy Gory”. Later the company reached an agreement with the owner to purchase the entire project.
Besides, “Platforma” has completed consolidation of 100% in the project “Favorit” in South Butovo district.
“Platforma” also plans to optimize project concepts, to fit-out and lease out retail spaces. The main anchor tenants have already confirmed their interest in the project. Cushman & Wakefield was chosen as exclusive consultant of the project “Vorobyovy Gory”, while Jones Lang LaSalle is the consultant for «Favorit».
The strategy envisaging purchase of troubled debt, reaching of the agreement with owners and the subsequent launch of the object becomes a profile for investors of “Platforma”. Unlike banks, limited by regulatory requirements of the Central Bank, an investment company which specializes in real estate transactions may apply more flexible approach in collaboration with borrowers that provides tangible advantages for both sides.