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«    March 2018    »

American Hines might buy last Stockmann’s assets in Russia

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American Hines might buy last Stockmann’s assets in Russia

Hines, the U.S. investment fund, submitted a request to purchase The Nevsky Center, a trade and entertainment facility located on Nevsky Prospect, in the Russian city of St Petersburg.

The Nevsky Center with an area of 91,000 square meters consists of a trade center, office premises and underground parking. The complex was put in operation in late 2010 and investments in the project totaled 170 million euro. At present, The Nevsky Center is estimated at $160 million.

The facility is the last asset owned by Stockmann in Russia. In winter 2016, the Finnish retailer closed the deal on the sale of seven Stockmann shops on the territory of the Russian Federation to Russian Debenhams. The deal was estimated at 5 million euro.

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