О1 Properties announces the completion of sale of the Gamma business centre.
The property buyer is an entity close to the main beneficiary of an independent leasing company Business Alliance, which implements large infrastructure projects. The terms of the transaction are confidential.
Konstantin Varand, CEO of Business Alliance, commented: “We are pleased to announce the acquisition of the Gamma business centre. We are convinced that the asset will complement our leasing business on the background of the high volatility in the financial markets. Since its completion, the property has proved to be in demand in the market, having a substantial pool of tenants, professional management team and predictable financial cashflow. Therefore, we consider the investment as a stable yield-generating source and expect to see an increase in its value.”
Dmitry Mints, Chairman of the Management Board of O1 Properties, added: “The Gamma business centre is a high quality asset. The only reason why we decided to sell it is that, at present, the strategy of formation of the property portfolio of O1 Properties is focused on acquisitions of Class A business centres. The sale of the property will allow the company to reinvest its own capital in the continuing expansion.”
The Gamma Business centre is located in the Danilovsky district of Moscow, inside the third transport ring, next to the Tulskaya metro station. The building’s reconstruction was completed in 2006. The business centre is equipped with essential modern engineering and technological systems. The site has 120 parking spaces, 24 hour security, video monitoring and access control system. The business centre’s total area is 10,399.2 sq. m.
Business Alliance is a large Russian leasing company involved in the financing of procurement of the high-tech equipment of high value for investment projects. The company’s client portfolio includes NLMK, RusHydro – Bureyskaya HPP, RUSNANO and Uralplastik.
Private Russian company O1 Properties was founded in 2010. The company is focused on acquisition and property management of the commercial real estate assets of premium class located in Moscow.
Currently, the portfolio of O1Properties includes business centres of class A and В+/B.