KR Properties
History
2025: Owner Azimut Hotels buys KR Properties from state
Properties previously owned by development company KR Properties are returning to the former owner. The owner of the Azimut Hotels chain, Alexander Klyachin, agreed to buy them from the state. Experts estimate the amount of the transaction at ₽50 -80 billion. This became known on March 4, 2025.
According to Vedomosti, agreements on asset buyback were reached at the level of the Ministry of Finance, although these objects are on the balance sheet of the Real Estate Management company created by the Federal Property Management Agency. The information was confirmed to the publication by one of the businessman's acquaintances and an interlocutor familiar with the discussion of the deal.
Experts differ in assessing the value of redeemable assets. Mikael Ghazaryan, Head of Capital Markets and Investments at IBC Real Estate, estimates their market value at ₽70 -80 billion. At the same time, senior partner of Ricci Alexei Bogdanov believes that only finished objects based on the amount of rental income can cost about ₽50 billion, not taking into account development projects.
The sources of financing for the deal remain unknown. One of Klyachin's acquaintances suggested that the businessman is likely to attract one of the state banks as a financial partner. In mid-2024, Klyachin created the KR Plus company together with Sberbank, but its owners are currently hidden.
The Federal Property Management Agency previously transferred about 40 companies owned by Klyachin. These firms own the projects of the Mur & Meriliz residential complexes under construction in Stolyarny Lane and Kuznetsky Most 12 by Lalique on Kuznetsky Most, buildings in the business districts Krasnaya Roza, Rassvet, Danilovskaya Manufactory, Aviator, Salyut, Vernadsky business centers, as well as shares in the Savva restaurant in the Metropol hotel[1]
2015
CJSC KR Properties is one of the largest developers in Moscow. The company designs, builds, reconstructs and manages buildings for various purposes: offices, retail premises, warehouses, apartments. Under the management of KR Properties more than 500,000 square meters of real estate of various classes. The largest and most famous projects of the company are the Red Rose 1875 business quarter and the Danilovskaya Manufactory 1867 loft quarter. These large complexes, consisting of many buildings in vast areas, are essentially mini-cities for comfortable work and recreation of thousands of people.