Big Russian deals attract investors
A number of high-profile deals have transacted in Russia in recent months. Although overall trading volume in 2012 was lower than in 2011, Russia is entering 2013 with a number of major pending and closed transactions.
In the fourth quarter of 2012, some €818.4 million was invested in commercial property in Russia, reports Real Capital Analytics (RCA). The full-year total was nearly €5.7 billion, a 9 percent decline from 2011. But, reports RCA, Moscow alone had €3.1 billion in pending transactions heading into the first quarter of 2013.
One of the biggest deals in the first quarter was the acquisition of the Metropolis Shopping and Entertainment Mall in Moscow by funds managed by Morgan Stanley Real Estate Investing (MSREI). The 205,000-square-metre property, which includes 82,000 square metres of