Finnish developer SRV sold its stake in the Okhta Mall shopping center in St. Petersburg

The Finnish group SRV and its Finnish co-investors have sold Jupiter Realty 1 B.V., which owns the Okhta Mall shopping center with an area of ​​140,000 sq. m. m in St. Petersburg. The buyer was the Cypriot Geomare Investments Limited. SRV’s share in the sale of the facility is €4.3 million, the total amount of the transaction was not disclosed. After the sale of Okhta Mall, SRV remains a co-owner of two shopping complexes – in St. Petersburg and Mytishchi near Moscow.

Finnish developer SRV announced the sale of Jupiter Realty 1 B.V. to the Cypriot company Geomare Investments Limited on its website. “The sale is part of the exit measures from the Russian business,” the statement reads. press release companies. The deal was confirmed to Vedomosti by Irina Ushakova, head of the consulting services and capital markets platform CORE.XP, who acted as a consultant on this deal.

Vedomosti connects Geomare Investments Limited with the Yekaterinburg-based Prospect Group LLC, co-owned by Andrey Petrov and Cypriot Siguri Limited, according to SPARK-Interfax. The address of the latter company is the same as the location of Geomare Investments Limited.

SRV directly owned 45% of the Okhta Mall shopping center, opened in 2016, and was also involved in the operations of the shopping center. In Russia, the developer also owns shares in the shopping and entertainment complexes Zhemchuzhnaya Plaza (92.7 thousand sq. m. together with the Chinese Shanghai Industrial Investment Company) in St. Petersburg and 4Daily (25.5 thousand sq. m., partner – Trinfico) in Mytishchi near Moscow. The company also manages the Solombala Mall shopping complex (43.5 thousand sq. m.) in Arkhangelsk and the Eightedges office (25.5 thousand sq. m.) in St. Petersburg. In the northern capital, SRV Russia planned to start building the Okhta 5.x multifunctional center in 2023 for 133,000 sq. m. m with offices, an IT cluster, a medical center, coworking, a hotel and apartments.

Alexandra Ten, St. Petersburg