Fair (shopping and entertainment center)

History

2022: Sale of Russian business PPF Real Estate to Central Properties for 4 billion rubles

Investment development company Central Properties acquired a large shopping and entertainment center in Astrakhan - "Fair." Previously, the object belonged to the Czech company PPF Real Estate, Vedomosti was informed in the issue of September 22, 2022.

The terms of the deal were not disclosed. It is only known that the shopping complex is planned to be included in the fund under the management of the Parus Asset Management Management Company (is engaged in the management of real estate funds and the sale of their shares to investors).

Shopping center "Fair"

The head of the retail department of CORE.XP Marina Malakhatko, in a conversation with the newspaper, estimated the cost of the Fair at 3.7-4.3 billion rubles. Managing partner of Alto Real Estate Fund Natalia Tischendorf also talks about 4 billion rubles. According to Malakhatko, PPF Real Estate most likely sold this asset at a discount, otherwise it would be difficult for it to find a buyer. She recalls that the strategy of Central Properties is precisely to acquire objects with a relatively fast payback period (6-8 years). At the same time, the company, according to her, received a rather high-quality asset. Malakhatko calls the "Fair" the top shopping center of Astrakhan, which, despite the fact that it was built back in 2011, is still in good technical condition by September 2022.

According to the data on the official website of the mall, its anchor tenants are the O'Kay hypermarket, Sportmaster, M.Video, Detsky Mir, Gloria Jeans and Inditex brands. The total area of ​ ​ the center is 81 thousand square meters. m, including 38 thousand m of retail space and parking for 700 seats. In total, more than 120 stores and a cinema operate on the territory of the shopping center.

Central Properties is an investment development company implementing class A projects in the field of office and multifunctional real estate in Moscow.^[1]

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