The Global Real Estate Group at the international law firm Salans advised Heitman European Property Partners IV on its first acquisition in Russia, a class-A, 74,000-ft² (approx. 6,875-m²) office building in Moscow's Voykovsky submarket, from the developer, Capital Partners.
The property, known as Office Building 2, is part of the Metropolis mixed-use center, a 311,000-m² complex comprised of three office buildings and a shopping center. It is located along the office corridor connecting Moscow city center with Sheremtyevo Airport. Completed in 2008, it is now fully leased to multinational corporate tenants.
The Salans team advising Heitman was led by Co-Chairman of the Global Real Estate Group, Evan Z. Lazar, and Stewart M. Middleman, Head of Cross-Border Transactions for the Global Real Estate Group. They were supported by a team of more than 15 GREG cross-border property lawyers.
Gordon Black, Senior Managing Director of Heitman's European private real estate equity group commented: "We've worked with Evan and members of Salans' Global Real Estate Team on a number of acquisitions in Central and Eastern Europe for over 12 years now.
"We are pleased that Salans' expertise, which combines strong local practice with international perspective, ensured the success of Heitman's entry into the Russian market."
Evan Z. Lazar added: "We are pleased to have once again helped add value and find solutions for Heitman and their investors."
Stewart M. Middleman noted: "This transaction is an example of how Salans is able to combine local knowledge and seamless cross-border expertise to help our institutional clients close their transactions."