On the background of reducing the activity of traditional investors in office property because of the pandemic, COVID-19 a growing interest in this market show the banks. They are acquiring assets, converting them into mutual funds. According to this mechanism, the structure of the savings Bank intends to implement the Moscow business center Diamond Hall with a total area of over 61 thousand sq. m. “Daughter” of state Bank closed the transaction on purchase of this facility recently. Earlier under the scheme were bought by mostly commercial and warehouses.Company “Sberbank asset management” became the owner of the business center Diamond Hall on Olympic Avenue in the Meshchansky district in Moscow. It should of appeared at the end of June changes to entities. Previously, the complex belonged to one of the founders of the Midland Development Eduard Shifrin. Diamond Hall was built in 2010, the total area of the centre — 61.5 thousand sq. m. the Cost of the project is estimated at 7-8 billion rubles, “Sberbank asset management” will offer the property to qualified investors: the complex became part of the assets of a closed mutual investment Fund (ZPIF) “Rental business-3”, told “Kommersant” in the company. Today, the structure of the savings Bank manages four closed-end funds with an investment strategy based on the rental of commercial real estate. The value of the net assets of these Funds — 31.5 billion RUB, the company Informed “Sberbank asset management” included in the funds only commercial and logistics real estate. The Bank was formed by the Funds for the purchase of warehouses at PNK Group, as well as shopping malls “Carnival” in Chekhov situated near Moscow and “River” in the North of Moscow. “Alfa Capital” jointly with X5 Retail Group and Alfa-Bank have launched a Fund to invest in objects street retail (see Kommersant dated 20 February). In addition, the Funds were used for the optimization of the portfolio of development companies. So, VTB has decided to transfer in mutual funds the assets of his “gals-development” (see “Kommersant” on April 17).Partner of Colliers International Stanislav Bibik Diamond Hall calls high-quality object of A class with strong tenant mix (area there is among other entertainment TV channels of holding “Gazprom-media” and owns shares in the Comedy Club Production company Solaris). According to Colliers International, rents in the Diamond Hall is located at the level of 35-40 thousand rubles. per 1 sq. m a year excluding VAT. In addition, almost all area in the facility was commissioned before the pandemic COVID-19, and the vacancy rate is almost non-existent, adds a source “” in the market.”Sberbank asset management” is not the only banking institution that is considering the purchase of large objects for transfer to the Fund. According to the three interlocutors of “Kommersant” in the real estate market, the structure of the VTB, are in talks about buying Russia’s largest shopping center “Fleet” area of 400 thousand square meters on Khodynka Boulevard in Moscow. In this asset to 50% controlt co-founder of Amma Development Michael Zajc and ex-banker Gleb Fetisov, the rest of the family Rotenberg.One of interlocutors “” says that the buyer may be a “VTB Capital asset management”, and the shopping center will be transferred to the Fund. According to him, the parties managed to agree on the terms of a transaction in which the lender was to be VTB, rated the “Fleet” in the amount of about 70 billion rubles, with capitalization rate at 9% and projected to 2020, the net operating income of $ 6.5 billion According to the interlocutor, “b”, “packaging” of the object in cuit will also allow you to avoid the consequences of sanctions related to family Rotenberg. But today, against the backdrop of a pandemic COVID-19 VTB became more cautious to look at trade as the lending sector, because the parties have put the negotiations on pause, adds the source “b”. Representatives of VTB, family Rotenberg and Mr. Hare theme not comment.Managing Director of Accent Capital Andrey Bogdanov, however, does not expect that because COVID-19 banks will increasingly invest in business centers. Despite the fact that the pandemic has affected trade more than other sectors of the commercial real estate and the more sustainable segment of the market, as a rule, the yields to investors still lower, he says.Elizaveta Makarova
