Romanov Property Holdings Fund, a Russian investment fund, finished the final stage of completing transaction on purchase of OBI Pulkovskoe in Saint Petersburg.
Romanov Property Holdings Fund took part in a transaction with OBI on sale and simultaneous leaseback of OBI Pulkovskoe hypermarket. The final stage of transaction was completed in the 2nd quarter of 2015. White & Case and DLA Piper acted as advisors. The parties do not disclose financial details of the agreement.
This transaction is an excellent example of the win-win approach: it is a good chance for OBI to focus on further objectives of the expansion strategy in Russia, and for Romanov Property Holdings Fund it is a great opportunity to strengthen its commercial property portfolio with another upscale tenant. This is the second OBI facility in RPHF’s assets: in 2012, the fund purchased OBI Borovskoe located in Moscow.
OBI Pulkovskoe with the total and rentable area of about 18,000 sq.m. is located on Pulkovskoe highway within a retail cluster comprising Leto shopping center, Castorama, Karusel, Okay and Metro Cash & Carry hypermarkets. The store opened in October 2008.
Natalia Tischendorf, Manager of Romanov Property Holdings Fund: “We are pleased to report of the development of cooperation between the investment fund and OBI and of the purchase of a new asset. OBI Pulkovskoe fully meets the basic investment principles of RPHF consisting in the purchase of retail properties in operation that generate stable cash flows and have a potential for growth in their cost".
Romanov Property Holdings Fund (RPHF), direct property investment fund, was established in 2008 on a parity basis by RD Group Holding and a consortium of private investors headed by Ruben Vardanyan, and specializes in investment in retail and office property primarily in the Moscow region. Today the value of the investment fund’s assets is over USD 1 billion.