Romanov Property Holdings Fund Announces New Partnership

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Romanov Property Holdings Fund announces partnership with ECE, a leader in the retail property management market in Europe.

Romanov Property Holdings Fund has acquired from ECE 50% of ECE Russland shares, a company providing professional shopping center management in Russia. The parties preferred not to disclose the transaction amount.

ECE Russland has been present in Russia since 2004. It provides property management services to retail property owners and banks owning non-core assets. ECE Russland’s property portfolio includes Vremena Goda and Dream House premium-class shopping centers in the Moscow region, as well as Aura shopping center in Yaroslavl.

Acquiring a share in the capital of ECE Russland by Romanov Property Holdings Fund provides new opportunities for the development of the company in Russia. ECE’s international experience and high reputation combined with close contacts of the investment fund with major commercial property owners and long-term partnership with Russian banks will enable ECE Russland to establish itself as a leader of the Property Management segment in Russia.

ECE Russland’s geography covers shopping centers with an area of 20,000 sq. m. and more located mainly in the Moscow region and the cities with population exceeding one million.

Gagik Adibekyan, Chairman of RD Group Holding Board of Directors, partner of Romanov Property Holdings Fund: “I am grateful to ECE for cooperation and I am glad that our partnership has moved to a new level. The objective of ECE Russland’s team is to form a professional retail property management market in Russia."

Ruben Vardanyan, President of Vardanyan, Broitman & Partners, partner of Romanov Property Holdings Fund: “The competition in the retail property market is growing, and the issues of high-quality shopping center management, including the support of the right facility positioning in the market, monitoring of current trends and timely re-conception, are important for the success of the project. Through the joint venture with ECE, leading international consulting will be available to retail property owners in Russia."

Natalia Tischendorf, Managing Director of Romanov Property Holdings Fund: “5 years ago, shopping center developers and owners started to outsource shopping center operation; today the share of external facility management is about 40% in Moscow. This indicates that asset owners are becoming more and more open to entrust professionals with retail property management."

Henrie Kötter, Chief Investment Officer, ECE Managing Director: "Due to our partnership with Romanov Property Holdings Fund, we open an additional opportunity to apply ECE’s professional skills and experience in retail property management in Russia. Furthermore, we use integrated approach when providing services: different objectives within the scope of professional property and asset management are interrelated and achieved in the most efficient and money-saving way."