Leading market experts have highly appraised Romanov Property Holdings Fund’s acquisition of a 60% stake in the Vremena Goda retail gallery. The purchase of the shopping center was declared one of the top 10 investment deals of the commercial real estate market in 2013.
The commercial real estate magazine CRE has published an extensive report on the purchase by Romanov Property Holdings Fund (RPHF) of a 60% stake in the Vremena Goda retail center. As a result of the deal, which was completed in the third quarter of 2013, RPHF became the 100% owner of the popular shopping center.
The magazine notes that the initial 40% stake in Vremena Goda was acquired by Romanov Property Holdings Fund in the second quarter of 2012. RPHF was established in 2008 on a parity basis by RD Group and a consortium of private investors led by Ruben Vardanyan. The fund is focused on investment in premium class real estate in the Moscow market.
Gagik Adibekyan, Chairman of the Board of Directors of RD Group:
“RD Group has always RD Group has always invested from scratch in its own development projects. At the same time, one of our top priorities is to develop the subsidiaries of our company. In 2008 for the purpose of acquiring functioning Class A commercial properties on the Russian market the Romanov Property Holdings Fund was created, with RD Group participating as a shareholder.”
Market experts highly appraised the deal to purchase Vremena Goda. The article in CRE quotes Roman Guseinov, Commercial Director of Torgovy Kvartal Management: “Vremena Goda is a successful project in an ideal location with a clear orientation toward the premium consumer segment… The shopping center’s tenant pool has been perfectly selected in strict adherence to the refined segment.”
The Vremena Goda shopping center is a luxury class retail gallery situated in western Moscow on Kutuzovsky Prospekt. The shopping center has a total floor space of 64,280 square meters.