Warimpex has acquired a 35% stake in AVIELEN, a company responsible for the development and operation of AIRPORTCITY St. Petersburg, increasing its total stake in the company to 90%. The remaining 10% is held by UBM Development AG. The closing of the transaction is still subject to the standard closing prerequisites for transactions of this type, in particular, the approval of the Russian antitrust authority. The purchase price was not disclosed.
Located in close proximity to “Pulkovo 2” international airport, the 150,000m² scheme 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. The asset enjoys close proximity to a four-star Crowne Plaza hotel. The key tenant of the project is PJSC Gazprom and its subsidiaries.
“AIRPORTCITY St. Petersburg is an attractive location with tremendous potential for further developments. For us, the acquisition of additional shares represents an expansion of our involvement in the site and a clear commitment to the Russian market,” commented Franz Jurkowitsch, CEO of Warimpex.