Hypo Real Estate Bank International announces that it has provided approximately €43 million ($51.2 million) of acquisition financing to AIG Global Real Estate for the sale and leaseback purchase of the FM Logistic Warehouse Complex, Moscow Region, Russia. The deal closed on 31 March 2006.
AIG Global Real Estate is a group of international real estate companies that actively invests in and manages real estate for clients and AIG member companies in over 50 countries around the world. AIG Global Real Estates global portfolio includes over 53 million ft² of retail, residential, industrial, office, and hospitality facilities.
FM Logistic Warehouse Complex is a Class-A warehouse consisting of nine interconnected halls built in four phases and designed by the FM Logistics Group. The first phases were completed in 1998 and the building was completed in 2004. The property, with a leasable space of approximately 66,000 m², is considered to be one of the best logistic centers currently operating in Russia.
Commenting, Harin Thaker, CEO - Europe, said: This is a significant deal for us, underlining our ability to provide successful finance solutions to major, international clients, and in a market with a great deal of potential.
Source: Hypo Real Estate