AIG European Real Estate Partners, L.P., part of AIG Global Real Estate, and Deutsche Bank Commercial Real Estate Group have sold Pokrovsky Hills, a premier 9.2-hectare residential community in Moscow, for an undisclosed sum to a subsidiary jointly owned by a subsidiary of Goldman Sachs and investment funds sponsored and managed by Goldman Sachs, the Goldman Sachs Developing Markets Real Estate Fund and the Whitehall Street Real Estate Funds.
Located on the northwest perimeter of the City of Moscow, and 13 kilometers from the Kremlin, Pokrovsky Hills is set in 9.2 hectares of landscaped land and comprises 207 luxury townhouses. The completed development is adjacent to the Anglo-American school and is home to first class international tenants, positioning it as the 'residency of choice' for the expatriate and diplomatic communities within the rapidly-developing Russian capital. The property is fully leased, with government embassies occupying over 20% of the complex.
The residential complex is managed by the original developer, Hines International Inc. Jones Lang LaSalle advised the sellers and Goldman Sachs advised the purchasers on the sale.
Source: Jones Lang LaSalle