PSN group PSN group

PSN Group operates in the real estate market. Organized in 2004. It is one of the largest private companies in Russia specializing in development, real estate management and land assets. Over the years, PSN Group has implemented projects in Moscow and St. Petersburg with a total area of ​ ​ more than 435,000 square meters. m In the near future, the company plans to continue to implement a large-scale development program: at the beginning of 2016, the company's portfolio of development projects includes more than 2 million square meters. m of residential and commercial real estate. One of the key areas of PSN Group is real estate management. Currently, the total volume of residential and commercial space in Moscow and St. Petersburg, managed by the company, is 740,000 square meters. m. PSN Group also manages land assets with a total area of ​ ​ more than 40,000 hectares, which are located in the direction of the main highways of the Moscow Region.

History

2024: Promsvyazbank received from PSN elite real estate in the center of Moscow in debt for 1.6 billion rubles

Promsvyazbank received from the PSN group elite real estate in the center of Moscow against a debt of 1.6 billion rubles. This became known in early September 2024 from an amicable agreement between Promsvyazbank and companies included in the PSN group.

We are talking about the transfer of assets in the residential complex "Polyanka/44" on Bolshaya Polyanka Street in Moscow. Promsvyazbank goes nine apartments, 63 parking spaces and 27 non-residential premises with a total area of ​ ​ about 2.3 thousand square meters.

2023: Bankruptcy filing

The Progress-N company (formerly PSN), created by the former owners of Promsvyazbank, brothers Alexei and Dmitry Ananyev, filed a bankruptcy petition with the Moscow Arbitration Court. This became known on June 6, 2023.

According to RIA Real Estate, the application for recognition of Progress-N JSC as bankrupt was registered in the file of arbitration cases on June 1, 2023.

Alexey and Dmitry Ananyev

On the balance sheet of the company remained the business quarter "Novospassky" on Derbenevskaya embankment in Moscow, and the structures associated with it belong to the office complex "Arbat, 1" (aka "Alpha Arbat Center"), the project of the apart-complex "Pravda" and several plots for development, said in his Telegram channel Filatoff Inc. editor of the department "Real Estate" newspaper "Vedomosti" Anton Filatov.

As of March 30, 2023, the value of the net assets of Progress-N JSC was estimated at 135.6 million rubles (a year ago it was 144.7 million rubles). In May 2023, Sberbank filed a lawsuit to recover debt from Progress-N JSC and Moscow Retail Factory LLC under the agreement concluded in 2018 on the opening of a non-renewable credit line in the amount of 13.2 billion rubles (the first court hearing is scheduled for July 4, 2023).

At the end of May 2023, it became known that Sberbank demanded that the Moscow Arbitration Court recover 107.6 million euros (9.3 billion rubles at the Central Bank rate) from Syracuse JSC, another PSN structure that owns the Arbat 1 business center (the main tenant of the facility is the Aeroflot group) on the street of the same name in the center of Moscow, Vedomosti reported. Sberbank also asked to foreclose on the business center, which is pledged under loan agreements. In turn, Syracuse JSC immediately after receiving the creditor's claim appealed to the court with an application for its own bankruptcy^[1]

2020: Dmitry Ermolov - the new owner of PSN

On October 23, 2020, the new owner of the PSN development group, previously owned by Dmitry Ananyev, became known. It is Dmitry Ermolov, who was previously the president of this group. Read more here.

2017: 1,100 Technoserva employees move to new PSN-operated office

In August 2017, Technoserv entered into a lease agreement for one of the buildings in the Novospassky business district on Derbenevskaya embankment in the south of Moscow, the developer of which is the PSN group. The area of ​ ​ rented premises is 12 thousand. Novospassky will house all the key resources of the company. Technoserv told TAdviser that the company is completely parting ways with its office, located at 2 Ryazansky Prospekt. The following will move to the new headquarters in Novosspaskom: a commercial unit, key technical specialists and administrative units. In total, 1,100 people will be affected by the move. Read more here.

2011: Strategy in the housing market: from high-rise buildings to cottage projects

In April 2011, it became known that Promsvyaznedvizhimost (PSN), controlled by Alexei and Dmitry Ananyev, decided on a development strategy in the housing market. In the coming years, the developer plans to abandon high-rise construction, focusing on cottage projects in the Moscow region. On 530 hectares, PSN expects to build about 320 thousand square meters. m of suburban real estate. The Moscow Region expansion of the developer, according to experts, may require up to $1 billion in investments.

^[2], Vice President for Land Assets Management at PSN, told RBC daily about the correction of the development strategy for the next three to five years^[2]hectares^[2]. Before the crisis, the company announced plans to engage in high-rise construction in the region. In 2007, it was a question of building 222 hectares in the Solnechnogorsk district: it was planned to build about 1.5 million square meters. m of multi-storey buildings, investing $1.5 billion in the project. However, the market situation in 2008-2010 made its own adjustments to the plans of all developers, and the current strategy of the company does not provide for multi-storey construction.

"We have big plans in the country market," argues Mr Glebov. "130 hectares are already in the works, in the coming years we will launch development projects on the territory of 400 hectares." Today, PSN implements two projects on 35 hectares: Vladychino (Leningrad direction) and Nikolo-Pyatnitskoye (Pyatnitskoye highway). "In the coming month, we will open sales in the cottage village" Treli "(Brekhovo village), where we plan to build up 23 hectares, and sell 12 hectares without a contract," adds Mr. Glebov

In the next three years, PSN intends to increase the scale of expansion into the Moscow region market. According to Mr. Glebov, the company is preparing a number of projects on land with a total area of ​ ​ 208 hectares in the Leningrad direction. It is planned to build 112.8 thousand square meters. m. Another 137.2 thousand square meters. m PSN will be built on 200 hectares in the Novorizhsky direction, 50-65 km from the Moscow Ring Road. "In the next three years, we plan to build 320 thousand square meters. m of suburban housing," says the interlocutor of RBC daily.

Mr. Glebov adds that today the company is implementing projects in economy class. "This type of house is the most in demand," he explains. At the same time, the company is going to offer business and premium projects.

PSN does not disclose the amount of financing for cottage construction. Dmitry Tsvetkov, director of the suburban real estate department at Penny Lane Realty, estimates the required investment at $280-300 million (if projects are implemented in the economy segment).

"The costs of building 320 thousand square meters. m of low-rise housing will approximately amount to 200 - 220 million dollars. It will take about $80 million more to ennoble the site, "the expert explains

In total, the volume of investments, taking into account the creation of all the necessary social infrastructure, may exceed $1 billion, calculated Vladimir Yakhontov, managing partner of Miel - Zagorodnaya Real Estate. The amount may increase if the developer decides to implement complex elite projects.

Market participants call today's course of the developer for inexpensive cottages correct. "Economy class is the most popular segment in the suburban real estate market," says Natalya Belova, head of the Varshavsky office at Inkom-Real Estate. "In terms of demand, this price segment covers 75% of transactions." According to Gennady Teryaev, director of the business development department of Rodex Group, sales in economy class are 10 times higher than in business and the elite.

The most popular, according to the general opinion of market participants, will be projects in New Riga. "Traditionally, this direction occupies a leading position in the suburban real estate market both in terms of supply (20% of the entire market) and in terms of demand (21%)," says Ms. Belova. As for the Leningrad direction, until the transport issue is resolved, it has no prospects, says Mr. Teryaev. At the same time, Mr. Yakhontov believes that "initiatives to build a expressway will raise the liquidity of the project."

Notes