C&W Residential secures buyer in $200m Moscow deal
22 Oct, 2007, Moscow
Cushman & Wakefield Residential has successfully secured funding partner, Endurance Residential Subfund, to undertake the development at the Otrada Equestrian Centre in Moscow, Russia in a deal worth US$200 million.
Otrada Equestrian Club is home to some of the country’s pre-eminent polo events such as the Rolex Polo Cup, the Moscow Polo Cup and the Russian Polo Cup. The deal between Otrada and Orco Group’s Endurance Fund involved a 18.5 hectare development site situated around the equestrian club. The development has been organised into 4 phases. Phase one consists 14 villas, phases two and three, a development of between 50-70,000 sq m and phase four is a hotel and spa of some 30,000 sq m. Orco Group will rent out the finished villas to corporate clients.
Christoph Manthe, Managing Director, Endurance Fund says “This is the first acquisition for the Endurance Fund in Russia so far, it allows us to manage a rental portfolio of great quality in a growing market.”
Cushman & Wakefield Residential utilises its global infrastructure to provide structured solutions to vendors seeking international capital or acquisition. In addition to their activities in the Russia, Cushman & Wakefield Residential has recently concluded transactions in China, Turkey, Hungary, Poland and the UK.
Andrew Williams, Managing Director, Cushman & Wakefield Residential says ‘’We are delighted to have been involved in this deal. Russia’s dynamic residential market is of strategic importance to us as we continue to grow our capabilities and facilitate more introductions of international partners into the local market using C&W’s international contacts.’’
Christer Lystad, Director – Russia, Cushman & Wakefield Residential says ‘’Activity in the residential market in Russia, and especially Moscow, is thriving and it is vital that we are on-the-ground to understand local market dynamics and source the right opportunities.’’
Should you require any more information please contact Andrew Williams, Managing Director, on +44 20 7491 9791 or Christer Lystad, Director – Russia, on +7 495 7999 894 .