On the real estate market of Moscow made the first major deal after the lifting of restrictions on the background of the pandemic. X5 Retail Group has sold torgtsentr “Mile” in the South-East of the city. A possible buyer called the natives of O1 Properties. Despite the fact that the consultants referred to the object of quality, because of the crisis, its price has dropped from 3 billion to 2.5 billion rubles At participants of the market warn that significantly reduce the prices of their assets are not yet ready even retailers are interested in selling their own space: they are likely to be transferred objects to the Ftra.X5 Retail Group managed to close a deal for the sale of torgtsentr “Mile”, OOO “Riteyl Park 2”, told “Kommersant” the consultants of the real estate market and confirmed the parties to the transaction. Cushman & Wakefield, advising the transaction, call it the largest on the real estate market this year and the first notable agreement after the lifting of restrictions associated with COVID-19. Negotiations for the sale of Miles “Retail Park 2” has begun even before the pandemic. Partner of Colliers International Stanislav Bibik specifies that if, prior to the crisis, the cost of the project amounted to 3 billion rubles, but now due to the discount, the deal could be concluded at the level of 2.5 billion rubles Torgtsentr “Mile” area of 38 thousand square meters is located on the street of General Kuznetsova in the Vykhino-Zhulebino district in Southeast Moscow. X5 Retail Group opened the facility in March 2018. The Director of the division of financial markets and investment JLL Mikayel Ghazarian calls a “Mile” high-quality asset: the object is optimal for the district torgtsentr size and good tenant mix. Market level of capitalization rates for similar projects, according to experts, is 11-12%. “A required point of rotation brick and mortar tenants, this will improve the quality and concept of the object,” he said.In the “Retail Park 2” explained that they plan to hold a reconception of Miles, but the closure of the facility is not expected. This Mall will be the second in the company’s portfolio, on its balance there is also a “Shopping Park N1” (25 thousand sq m) in Tver. According Kartoteka.ru OOO “Riteyl Park 2” was at the end of last year and is on balance Erandos Cyprus Ltd. Interlocutors “” in the market of commercial real estate, previously said that these legal entities initially could be monitored by Norman Asset Management, the owners of which were considered the mark Rong and Julia Morganas-Orlova. The company planned to develop in Russia retail parks, but are faced with financial difficulties (see “Kommersant” on December 2, 2016).Now Kommersant’s sources believe that “Retail Park 1” may be associated with the son of the founder of O1 Properties Boris mints, Dmitry and former top management of the company. In most O1 Properties denied the connection with the current shareholders of the business: in 2018, the company came under the control Riverstretch Trading & Investments Limited within the settlementarrears.X5 Retail Group is called the sale of “Miles” one of the steps to improve the portfolio of assets, adding that the group will continue work in this direction.The General Director of “Infoline-Analytics” Michael Burmistrov says that retailers have begun to dispose of non-core commercial real estate after crisis in 2014 when he fell, rental rates and found that the problems with managing these objects more than the yield, and continue to do so until now. But if earlier such transactions were very isolated, but now the sales process is even more complicated due to the General uncertainty around format targetrow, he said.Thus mister Burmistrov considers that the serious discounts retailers are yet not prepared to give in a crisis, they are more likely to use non-standard tools, such as Ftra.Alexandra Mertsalova, Anatoly Kostyriv
