Find in the news:
BY COUNTRY

IMMOFINANZ Sells Retail Portfolio In Moscow For EUR 901 Million



The FORT Group is acquiring the entire retail portfolio in Moscow from IMMOFINANZ in a share deal.
The Executive Board and the Supervisory Board of IMMOFINANZ AG approved the sale of the entire retail portfolio in Moscow to the Russian FORT Group. The FORT Group is a key player on the retail market in St. Petersburg and, with this acquisition, will now extend its activities to Moscow. The transaction is the result of a multi-stage, structured sale process by IMMOFINANZ. The purchase contract was signed today, and the closing is expected by the end of December 2017 contingent upon fulfilment of customary closing conditions. These conditions include the refinancing of the portfolio by the FORT Group.

Zolotoy Vavilon Rostokino

The object of the sale is the Austrian holding company that contains all of the investments in the property companies which hold the retail portfolio in Moscow. The transaction is taking place as a share deal and will transfer all of the assets held for sale (as of 30 June 2017: EUR 1,068 million) and all of the liabilities held for sale (per 30 June 2017: EUR 822 million) in the retail portfolio Moscow to the FORT Group. The included property assets total EUR 976 million. In addition, the FORT Group will also take over a Russian pure land-owning company (investment property as of 30 June 2017:  EUR 4 million). The net assets covered by the sale totalled EUR 250 million as of 30 June 2017.

The purchase price for the gross assets, including financial liabilities of EUR 675 million as of 30 June 2017, totals up to approximately EUR 901 million converted from Rubels. The purchase price for the net assets, converted from Rubels, totals up to approximately EUR 226 million (RUB 15 billion; nominal amounts in RUB converted at an EUR/RUB exchange rate of 66.2425 as of 30 June 2017). Included here is an amount of EUR 14.5 million which is deferred and guaranteed up to January 2022 as well as an earn-out of up to RUB 9 billion (approx. EUR 136 million) which is also due in 2022, but is based on the revenues of the shopping centers in 2021.


More about shopping malls in Russia



YESTERDAY, USA:
The new owners of the company are Authentic Brands Group, Simon Property Group, and Brookfield Property Group.
YESTERDAY, Spain:
The long-awaited opening of a new shopping center by McArthurGlen took place in Malaga.
DAY BEFORE YESTERDAY, Russia:
Sistema Finance S. A., a subsidiary of Russian AFK Sistema, will allocate up to EUR 263 million for financing the transaction.
DAY BEFORE YESTERDAY, USA:
The discount service will no longer sell staff, only experiences.
Feb 18, 2020, USA:
The brands represented include Rick Owens, Marni, Balmain, Versace as well as Rag & Bone and Adidas Special Collections.
Feb 12, 2020, USA:
The Fashion House has announced plans to open a new restaurant in Beverly Hills.
Friend
and Follow
Dania Pointe GLA:975 000 SF
ADDRESS: 292-344 North Bryan Road, Dania Beach, FL 33004
USA . Fort Lauderdale
Dania Pointe
FAN Mallorca Shopping GLA:592 015 SF
ADDRESS: C/ Cardenal Rossel, S/N. 07007 Palma de Mallorca
Spain . Palma
FAN Mallorca Shopping
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us