The clinic went into the portfolio – Kommersant

Despite the crisis in the real estate market, non-core investors have become actively interested in assets in this sector. So, the former top manager of Gazprombank Oleg Titarenko, who was responsible for working with problem borrowers, bought the building of a medical center in the south-west of Moscow for more than 1.5 billion rubles. The acquisition of assets at bankruptcy auctions is now the only opportunity for non-core investors to enter the real estate market. Even if they do not dare to implement development projects, in the future they will be able to resell the sites to developers, experts say.

On the sale for 1.58 billion rubles. buildings with an area of ​​almost 9 thousand square meters. m and a plot of 0.2 hectares on Michurinsky Prospekt in the south-west of Moscow, which belonged to the declared insolvent Clinic-M LLC, Kommersant learned from the register of bankruptcy information. The buyer was Oleg Titarenko, a former vice-president of Gazprombank, who was responsible for working with distressed assets. A Kommersant source close to Gazprombank said that the top manager no longer works at the bank. It was not possible to contact Mr. Titarenko directly.

The object on Michurinsky Prospekt was built for about 16 years and was considered a problematic long-term construction, recalls Anton Kalistratov, senior director of the valuation and consulting department of the Commonwealth Partnership. After commissioning, the building housed a private medical center.

Due to the small size of the plot, the new owner is unlikely to be able to rebuild the object, increasing its area and converting it, for example, into a residential building, partner Ricci | Consulting and evaluation” Yana Kuzina. The construction of a new office building is also not economically viable, Mr. Kalistratov adds.

The building can also be used as class B offices, says Igor Puschen, director of capital markets and investments at CORE.XP. In this case, the owner of the facility can earn 180-200 million rubles. annually.

However, in the current situation, when the level of vacant space even in class A business centers exceeds 12%, it will be difficult to find quality tenants for the future office on Michurinsky Prospekt. According to Ricci, from April 2022 to March 2023, 202.4 thousand sq. m of quality space, which is ten times more than a year earlier, calculated in Ricci.

The sharp increase in vacated space in Moscow business centers is associated with the departure of international companies from the Russian market. It has not yet been possible to find a replacement for these tenants in full. Therefore, companies planning to increase office space or move now have a wide choice of objects in the established business districts of Moscow.

Despite the difficult situation on the real estate market, non-core investors began to actively acquire assets, mainly through bankruptcy auctions. It is cheaper than buying real estate from the final owner, say consultants interviewed by Kommersant. So, for example, the ex-head of Prominstrakh, Sergei Gladkin, who insured the liability of the developer of the scandalous Tsaritsyno residential complex in Moscow, consolidated land near the Losiny Ostrov national park in Mytishchi near Moscow through participation in bankruptcy auctions (see “Kommersant” from May 2).

Boris Grabchinsky, a shareholder of Opticom JSC, which supplies packaging and stationery for business, bought the company from the auction for 342 million rubles. the territory of the former bakery No. 8 on Bolshaya Cherkizovskaya Street in the east of Moscow, which belonged to the bankrupt Nastyusha Group of Companies (see Kommersant of March 24). It is possible to implement a large development project on this site after approval of permits by the mayor’s office.

The acquisition of objects and sites of bankrupt companies, according to consultants, now allows you to launch development projects at relatively lower costs. Moreover, in their opinion, non-core investors in the future may resell to developers the property received as a result of bankruptcy auctions.

Daria Andrianova