The Chinese Fosun Group and Аvica Management Company have closed a deal on the purchase of Vozdvizhenka Center office complex (formerly known as Voentorg, a landmark military store built in 1913), Vedomosti reports on Tuesday with a reference to real estate market consultants.
This information was confirmed by the CEO of Аvica Management Company, Natalia Tischendorf, a managing director of JLL (a consultant of the transaction), Tom Devonshire-Griffin, and a representative of the businessman Dmitry Rybolovlev who owns the trading house.
Fosun Group has become a majority shareholder of the asset with an area of 70.7 square meters. Avica Management Company will handle the center’s comprehensive management.
The transaction amount has not been disclosed. However, according to Vedomosti, the deal has proved to become the largest one on the commercial real estate market of Russia since the beginning of the year.
