K2 Business Park receives financing from Sberbank (RU)

Srednerussky Bank of Sberbank of Russia and K2 Business Park Team agreed to provide the first international class-A business park, located on Kaluzhsky Highway, 2 km from Moscow’s ring road, with project financing.

K2 Business Park will consist of four seven-story office buildings with a rentable area of approximately 18,500 m² each. The total rentable area of the project is approximately 74,000 m². High leasable efficiency ratio, exceptional parking ratio, landscaped territory, and its excellent transport accessibility will create a comfortable and unique atmosphere for tenants.

The project will benefit from its high quality vs low rental rates as well as the combination of an international design team, an experienced developer, and institutional ownership. The architect of the project is NBBJ, which also has experience working on the Russian market. Ant Yapi was selected as a general constructor, Sawatzky Property Management - as the property manager. CBRE has been selected as the exclusive marketing and lease agent.

In October 2012, Storm Properties and Altai Capital successfully raised capital from private investors to buy 100% of the K2 Business Park. In accordance with the work schedule, construction of the first phase, officially started on June 1, 2013 and will be completed in the second quarter of 2014. The remaining three phases will be delivered in six month increments thereafter.

Michael Belton, President of Storm Properties, comments: «Receiving financing from the largest bank in Russia has great importance to us. Credence, given by Sberbank of Russia, is the best guarantee that the project will be implemented at a high level within the declared period, regardless of market conditions».

Elena Denisova, Director, Head of the Office Agency department, CBRE, Russia, says: "The presence of Sberbank of Russia as a reliable financial partner will strengthen the intentions of potential tenants of the project".

Source: CBRE

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