Joint venture led by Warimpex sells office towers in St. Petersburg (RU)

A joint venture between the Austrian real estate developer Warimpex (55%), CA Immo Group (35%) and UBM (10%) has negotiated and concluded a term sheet with a Russian pension fund for the sale of two office towers at AIRPORTCITY St.Petersburg.

The parties agreed that the details of the term sheet and the negotiated purchase price would not be disclosed. The two buildings – Jupiter 1 and Jupiter 2 – offer roughly 16,800 m² of space in total and have been let out to subsidiaries of a major Russian energy group for about a year. The parties expect the transaction to close in mid-2014.

AIRPORTCITY St. Petersburg is being developed by the project company ZAO AVIELEN A.G. and is located in close proximity to “Pulkovo 2” international airport. It is the first premium-class business centre at this location and is a key infrastructure project in the area around the airport, one of the fastest-growing commercial zones in St.Petersburg.

Source: Warimpex

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