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2024: Kama Capital bought the Metropolis Moscow business center from the Americans and Czechs
The Kama Capital investment holding at the end of May 2024 closed the deal to acquire the Metropolis business center with a total area of 110,000 square meters. m in Moscow. The sellers were the American Hines Russia & Poland Fund and the Czech company PPF Real Estate, which were previously co-owners of the facility.
A representative of Kama Capital told Vedomosti about the transaction and was confirmed by Senior Vice President of Hines Natalya Maltseva and a representative of CORE.XP, which acted as a consultant to this transaction.
The Metropolis business center, located on the Leningradskoye Shosse near the Voikovskaya metro station, consists of three buildings. The first two buildings were acquired by Hines Russia & Poland Fund and PPF Real Estate in 2015, and the third in 2018. The sale of the complex has been discussed since 2022, but has only been completed now.
The deal had previously been approved by a government commission. According to its terms, the company on the balance sheet of which Metropolis is located should be transferred to Russian jurisdiction, since it is now registered in Cyprus.
Metropolis became the last major asset of PPF Real Estate in Russia. After the events of February 2022, the Czech company gradually sold its facilities in the country, including the Yuzhnye Vorota speech park in Domodedovo, the Comcity business park on the Kyiv highway and the Nevsky Center shopping center in St. Petersburg.
The amount of the transaction for the purchase of Metropolis was not disclosed, but, according to experts, its market value may range from 25 to 40 billion rubles. If the estimate is correct, then this transaction will become the largest in the Moscow office market since at least 2017, the publication says.
Kama Capital specializes in the purchase and management of commercial real estate. Earlier in 2024, the company acquired from the French Auchan its Russian shopping centers Aquarel, the Troika complex in Moscow and cash zones in Auchan hypermarkets. The total portfolio of Kama Capital by May 2024 is over 400,000 square meters. m of real estate.[1]
2023: Leadertrans bought Metropolis business center
On December 18, 2023, it became known that PPF Real Estate, part of the Czech PPF Group, and the American investment company Hines entered into an agreement on the sale of the Metropolis office complex to the logistics operator Leadertrans. The amount of the transaction is estimated at tens of billions of rubles.
The Metropolis business center is located in Moscow on the Leningradskoye Shosse near the Voikovskaya metro station. The usable area of the office part is 78,500 square meters. The facility is part of the Metropolis multifunctional complex, which also includes the shopping center of the same name. There is a beauty salon, cafe, laundry, multiplex, as well as a food court of 18 restaurants on the territory.
According to the Vedomosti newspaper, as part of the deal to buy a business center, companies associated with Leadertrans created a new legal entity, BC na Voikovskaya. Information about the object has already disappeared from the official website of the Czech company. The value of the asset is not officially disclosed as of that date. NF Group partner Stanislav Bibik believes that we can talk about 25-30 billion rubles. And the head of the capital markets and investments department of IBC Real Estate Mikael Ghazaryan says that Metropolis costs 34-36 billion rubles.
The Metropolis business center consists of three buildings: two of them were acquired by the Hines Russia & Poland Fund and PPF Real Estate in 2015, and in 2018 the deal to buy the third was closed. In 2022, the owners announced their intention to sell the complex. Several potential buyers showed interest in the asset. It is assumed that after the acquisition of the facility, Leadertrans will be able to lease the area of the complex to third-party companies, and uses part of the premises for its own offices.[2]
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