Israeli developer Mirland leaves Russia
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Mirland Development, founded by the Israeli Fishman Group, can transfer part of its last Russian assets with a total value of 5-6 billion rubles. third party company. We are talking about commercial real estate in Moscow, St. Petersburg and a shopping and entertainment center in Yaroslavl. The developer’s office buildings have already begun to be consolidated by Sberbank, and the lands in St. Petersburg by the Aquilon group. Most of these assets are long outdated, experts warn.
The Federal Antimonopoly Service (FAS) reported that it had received applications for the acquisition of Avtoprioritet LLC, Creativecom LLC and Petra-8 LLC, without naming the applicant. The FAS did not provide Kommersant with details. These structures were previously part of the Mirland Development perimeter. The company did not answer Kommersant’s questions.
Mirland Development was created in 2004 to implement development projects in the Russian Federation. In 2006, it actively acquired sites in Moscow and St. Petersburg, expecting to build 2 million square meters in the country. m (see “Kommersant” dated December 18, 2006). Initially, it was controlled by the structures of the Israeli Fishman Group, created by Eliezer Fishman.
In total, the company’s portfolio included 1.3 million square meters. m of real estate. But back in 2014, the group faced financial problems (see “Kommersant” dated December 19, 2014). CORE.XP estimates the portfolio of Mirland projects remaining in the Russian Federation at 5–6 billion rubles.
Some of Mirland’s assets have already been transferred to new owners. In March 2023, according to Kartoteka.ru, previously controlled by the structures of the company Inomotor+ LLC and Gidromashservice LLC were transferred to Gros LLC, part of Sberbank. These legal entities own 18 thousand square meters. m in the Mirland business park on 2nd Khutorskaya Street in the north of Moscow. For the main part of the business park with an area of 67 thousand square meters. m Sberbank was looking for a buyer back in 2021. The bank did not answer Kommersant’s questions on September 20.
According to SPARK-Interfax, on the balance sheet of Avtoprioritet LLC there is an object of 11.7 thousand square meters. m also on 2nd Khutorskaya Street. NF Group partner Olga Shirokova calls the Mirland business park an outdated facility, suggesting that the land underneath may be of more interest to potential buyers.
“Creativecom” is the developer of the cottage village “Western Residence” in the area of the village of Perkhushkovo in Odintsovo, Moscow Region. Initially, the construction of houses here was carried out on an area of 22.5 hectares, as follows from the materials on the portal move.ru. Olga Shirokova believes that the village has already been completely sold out.
Petra-8 was engaged in the redevelopment of the territory of the Leto greenhouse farm in the Moskovsky district of St. Petersburg. On 40 hectares, the developer was going to build the Triumph Park residential complex with a total area of 1 million square meters. m. But after the commissioning of six phases of the project, the developer sold the remaining 5 hectares of land to the Akvilon Group of Companies.
Currently, Petra-8 has 3.5 hectares on its balance sheet for the construction of a shopping complex, as follows from Rosreestr data. The acquisition of this site was also considered by the Akvilon Group of Companies, a source told Kommersant in the market. The company did not promptly answer Kommersant’s questions. To convert it to housing, it will be necessary to change the design of the territory, which is difficult to coordinate with the city, warns development expert Andrei Veresov.
Mirland Development’s portfolio previously included the Triumph Mall shopping center with an area of 58 thousand square meters. m in Saratov. Its development is carried out by Investment and Mortgage Company LLC. In mid-August, the legal entity was transferred to Investline LLC; it is controlled in equal shares by Central Properties and Dmitry Bykov. Another asset of Mirland Development – the Vernissage shopping and entertainment complex in Yaroslavl (43 thousand sq. m) – will remain on the company’s balance sheet for now, according to SPARK-Interfax data. Kommersant’s interlocutors in the real estate market suggest that this property will soon go to the creditor bank.
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