Tuesday, 2 December 2014
Dentons advises Avielen on the sale of two office towers in St. Petersburg (RU)
Avielen, a joint venture between the Austrian real estate developer Warimpex, CA Immo Group, and UBM, successfully completed the sale and lease of two office towers and associated land plots including those for parking at AIRPORTCITY St. Petersburg, a premium-class business center located close to Pulkovo 2 international airport.
The two buildings, Jupiter 1 and Jupiter 2, offer roughly 16,800 m² of space and have been let out to the subsidiaries of a major Russian energy group. The purchaser is an affiliate of the Blagosostoyanie Russian non-state pension fund, managed by the Trinfico Investment Group. The transaction is valued at about €80 mln.
Avielen and its shareholders were represented by global law firm Dentons. St. Petersburg Real Estate team partner Karina Chichkanova led the transaction, assisted by of counsels Oleg Lovtsov and Olga Uriupinskaya and associates Arina Dovzhenko, Tair Suleymanov and Svetlana Shlyunko.
“We are delighted to have been involved in this unique and multifaceted project which we have been advising on for over a year,” Karina Chichkanova said. “The transaction included, amongst other things, advising on the sale, lease, shareholder loans, guarantees and bank financing matters and resulted in more than twenty agreements being signed over the course of the project.” Avielen
The project company Avielen is the developer and operator of the four-star Crowne Plaza hotel with 294 rooms and spacious conference facilities, as well as three office buildings (31,000 m²) in the “Pulkovo 2” business district at AIRPORTCITY St. Petersburg.