European Property Holdings (ЕPH)

History

2022: Sale of Russian EPH business to local top managers

Swiss investment holding European Property Holdings (EPH), which owns the Berlin House on Petrovka in Moscow, sold Russian business to local top managers. The company announced this in early November 2022.

According to Sheets"," the buyer of EPH's Russian assets was ERA Holding, created by local top managers of the Swiss holding. Medina Dietz, CEO of ERA Holding, confirmed this information. Dietz also adds that the transition of EPH assets to a new owner will not affect tenants and customers of the company's facilities in any way.

"Berlin House" on Petrovka in Moscow

It is noted that the business will be transferred to the buyer at market value as of July 30, 2022. For the first half of this year, the price of Russian business centers is 595 million euros. Together with the assets, the debt obligations of the group, whose size is unknown, will be transferred.

The newspaper calls EPH one of the first foreign investors in the Russian real estate market. The company began operating in the Russian Federation in 2003. By November 2022, she owns six business centers in Moscow, among them the Berlin House (13,400 sq. M) And the Geneva House (16,500 sq. M) on Petrovka, the Hermitage Plaza (40,200 sq. M) in the area of ​ ​ Art. M "Mayakovskaya," "Northern Lights" (28,100 sq. M) on the street. Pravda. Her portfolio also includes two premium residential complexes on Arbat - Artisan and Turandot Residences.

"Berlin House" is a class A office and shopping complex with a two-tier underground parking. It was commissioned in early 2003.

Irina Ushakova, head of the consulting services platform and the investment and capital markets department of CORE.XP, noted to the publication that the most attractive objects of the holding from an investment point of view are Berlin House, Geneva House and Hermitage Plaza^[1]

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