Czech PPF Real Estate might buy 143,000-sqm mall in Moscow

Czech PPF Real Estate might buy 143,000-sqm mall in Moscow
Tags: Photo source:

MD Group made a decision to sell Butovo Mall trade and entertainment center located on Chechersky Proezd in Moscow, Vedomosti newspaper reports on Wednesday.

“Some of the investment companies have already showed their interest in it, but the most advanced stage of the negotiations is that with Czech PPF Real Estate”, - the paper said.

Apart from that, O1 Properties and Morgan Stanley are also interested in the facility.

The Czech group PPF Real Estate is one of the most active foreign investors in Russia. Its projects include Comcity business park on the Kievskoye highway and Yuzhnye Vrata warehouse complex in the Moscow region. Two years ago, PPF Real Estate, in partnership with Hines purchased two office towers with an area of 82,000 square meters in Metropolis complex, and is now in talks to purchase the third one.

Butovo Mall was opened in the first quarter of 2017. A total area of the complex amounts to 143,000 square meters, of which 57,000 square meters are for rent. Market value of Butovo Mall is estimated at 5-6,2 billion rubles.