Deutsche Bank leases office space in Moscow's business center NordStar Tower (RU)

Deutsche Bank and DS Development (Group of Companies DON-STROY) announced closure of one of the largest deals on the office real estate market of 2009. The Deutsche Bank leased more than 7,000 m² of office space in the business center of Begovaya NordStar Tower.

A lease agreement was signed for seven years. The leased floor space will provide more than 700 workstations for employees of Global Information Services - Capital Markets, Russia, which will allow for not only accommodation of 600 people working in the Department today, but also for business expansion.

NordStar Tower, the total floor space of which is 147,000 m², meets all international standards of the Class A office center. The building is located at the intersection of Khoroshovskoye shosse and Third Hoist Ring, in close vicinity of the business center Moscow City. A new business center has an efficient floor plan and a high parking ratio (1 car place per 60 m²).

A consultant for the deal is the company Jones Lang LaSalle, and a legal adviser is Squire, Sanders & Dempsey (Moscow) LLC (USA).

Global Information Services - Capital Markets of Deutsche Bank has been operating in Moscow since 2000. It develops software used to improve operating activities of the Deutsche Bank Group on international financial markets including such stock exchanges as New York Stock Exchange, London Stock Exchange, Tokyo Stock Exchange, Deutsche Boerse. The software developed by Global Information Services - Capital Markets is used by the Deutsche Bank Group companies in New York, Frankfurt am Main, London, Tokyo, Singapore and Hong Kong.

When commenting on the new office premises rental Igor Lojevsky, Chief Country Officer of the Deutsche Bank Group in Russia and CIS said: "Our readiness to invest in information technologies at an uneasy for the world economy time allow the Bank to strengthen its positions in the long-term prospective through getting of competitive advantages at the point of economic crisis surmounting. A decision to lease such big office spaces particularly in Moscow, as well as volumes of investments behind the deal once again confirm that the Bank is committed to the Russian market and demonstrate our wish to fulfill strategic plans in the country".

William Cunningham Head, Global Information Services - Capital Markets, Russia, noted: "I am glad that all employees of our center will be working under the same roof in a modern high-tech office. Among other things, this will contribute to success of our work and hence to successful development of the Bank's business as a whole that completely rests on information technologies in the contemporary world".

"We are glad that such client as the Deutsche Bank selected our object from of the variety of Moscow business centers, - Ivan Sitnikov, General Manager of the "DS Development" noted. – For us it is an attestation of the high quality of the product that was created by the Group of Companies "Don-Stroy". Besides it testifies to the fact that the commercial real estate market is recovering at a much higher pace than was expected. Clear-sighted companies conclude long-term lease agreements at still attractive prices. We congratulate the Deutsche Bank since it has become one of the first international companies that chose NordStar Tower to be used for their offices. We would also like to say separate words of gratitude to the company Jones Lang LaSalle that administered the deal and contributed to its closure".

Alexey Efimov, National Director, Russia and CIS, Tenant Representation Department, Jones Lang LaSalle added: "We congratulate Deutsche Bank and Don-Stroy with successful completion of the deal. Deutsche Bank is the first anchor tenant of the NordStar Tower that thanks to its brand name will add to the developer's assurance in the project success and stability. Also, this transaction demonstrates positive dynamics on the Moscow real estate market, while stressing the fact that it is surmounting the crisis".

Source: Jones lang LaSalle

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