Rus News Journal

the Leader examines the Hermitage plaza

the Owner business - the centre the Hermitage plaza on the Garden ring in which the staff - apartment " settles down; Vympelcom can become operating pension money Gazprom UK the Leader . The developer and the proprietor of object - companies Forum Properties - should sell object to pay off with the Alpha bank financing building the Hermitage plaza . The Sum of transaction can make $160 - 180 million Before crisis business - the centre cost about $250 - 300 million
that Forum Properties carries on negotiations for sale UK the Leader the business - the centre the Hermitage plaza (a total area - 42 thousand sq.), have told at once some advisers. The basic tenant of office building in Krasnoproletarsky street around metro station New Slobodsky The cellular operator " is; Vympelcom signed even in the autumn of 2006 with the proprietor of object the ten years` lease contract of 31 600 sq. m. the Transaction can be closed not earlier than through three - four months, one of interlocutors " has specified; . This results from the fact that the proprietor plans to create the closed share investment fund of real estate (ZPIFN) where this object will be brought, and it will be offered to buyer to redeem shares - the adviser speaks. But, he adds, for creation ZPIFN Forum Properties it is necessary to solve a question with the creditor of object - Alpha bank, at which the Hermitage plaza is in pledge. The interlocutor estimates current debts Forum Properties against this bank in more than $100 million One of the advisers, familiar with negotiating process, has informed that the sum of transaction can make $160 - 180 million

Financial director Forum Properties Sergey Voronov has confirmed the fact of negotiations with UK the Leader . We discussed this question (possible sale of object. - ) with the Leader - mister Voronov has explained, having noticed that in acquisition the Hermitage plaza some more companies are interested. To name their Sergey Voronov has refused. if we do not agree about sale then we will try to restructure the credit before Alpha bank - the interlocutor " has added; . The director for corporate communications UK the Leader Julia Vysotsky has confirmed interest UK to the Hermitage plaza .

UK the Leader it is registered in 1993. Operates pension money Gazprom . For July, 1st, 2008 under control of the company was 283,7 mlrd rbl. the Basic shareholder (75 % plus one action) - Sogaz . Through UK in interests Gazprom many property transactions with the further resale of actives to the third parties are carried out.

today in the market not so it is a lot of the buyers, ready to conclude mullions-strong transactions, and UK the Leader - one of such companies, advisers mark. In the beginning of March UK has confirmed the interest to Open Society real estate Mosenergo (see from March, 3rd) which is planned to expose for competition. Among the buildings estimated by experts in $118 million, - a staff - Open Society apartment on Raushsky quay. conditions of competition on buildings Mosenergo till now are not published - Julia Vysotsky has noted.

Today on sale all objects of commercial real estate constructed during the last years are exposed practically. From - for falling of cost of rent at developers almost the gain, thus many banks has fallen to 40 % have raised rates under already given out credits (from 14 % in roubles to more than 20 %) - the operating partner of the Moscow central stock exchange of real estate of Artem Tsogoev speaks. Tenants even more often began to refuse to move in new offices under the lease contracts concluded till autumn of 2008, demanding or decrease in rent rates, or contract cancellation (see from February, 3rd). According to report Cushman and Wakefield Stiles and Riabokobylko, level of the vacant areas in the Moscow office market has grown to 21,8 % (before crisis - about 6 %).

Despite huge volume of the offer, transactions practically is not present. Buyers demand the big discounts, and sellers are yet ready to them - operating director Jones Lang LaSalle Vladimir Pinaev speaks. By its estimations, before crisis business - the centre the Hermitage plaza Could cost about $250 - 300 million

, MARGARITA - FEDOROVA