Hogan Lovells Advises Open Partners Investments Limited on the Landmark Acquisition of Business Centres in Moscow
22 December 2010
MOSCOW, 22 December 2010 - Hogan Lovells has advised Open Partners Investments Limited, a major Russian real estate investment fund and a member of Mr. Boris Mints' Group, on the landmark acquisition of 5 major operating business centres and one business centre under construction in Moscow from Horus Group. The completion of the acquisition was announced on 13 December 2010.
The total area of the acquired business centres, which are all located in the downtown of Moscow, exceeds 275 000 sq.m. Each of the 5 operating business centres constitutes a complex of several major buildings. The overall value of the deal exceeds USD 920 million. According to real estate analysts, this deal has been one of the biggest ever acquisitions in the history of the Russian office sector and is likely to be the largest deal in the office sector in Moscow in 2010.
The Hogan Lovells (CIS) team was led by Taras Oksyuk, head of real estate practice in Moscow, who was assisted by real estate associates Anna Chizhova, Natalia Miroshnichenko and Shamil Sadykov.
Managing Partner in Moscow, Oxana Balayan, said:
"Open Partners Investments Limited is our long-standing client and we are delighted to have acted for them on this important project. We look forward to further developing our successful relationship."
Taras Oksyuk, head of Hogan Lovells (CIS) real estate practice, commented:
"Our work with Open Partners Investments Limited on this landmark acquisition gave us another opportunity to demonstrate our strong real estate capabilities and expertise in Russia.”