The funds are replenished with warehouses – Newspaper Kommersant No. 41 (7486) dated 03/13/2023
[ad_1]
Despite the crisis in the commercial real estate market, mutual fund managers continue to look for investment opportunities. Thus, Modern Real Estate Funds Management Company, which was previously part of the Sberbank group, can be redeemed for 6 billion rubles. warehouse complex with an area of 70 thousand sq. m. m in the PNK Park Medvedkovo logopark in the north of Moscow. But the object is not completely filled with tenants, which, according to experts, will not allow us to count on the optimal level of return on investment.
The developer PNK Group has agreed to sell a warehouse complex with an area of about 70 thousand square meters. m in “PNK Park Medvedkovo” in the north of Moscow, four sources of “Kommersant” in the real estate market told the former Sberbank structures that manage real estate.
The amount of the deal could reach 5-6 billion rubles, Andrey Novikov, an independent expert, calculated.
According to one of Kommersant’s interlocutors, the buyer could be Modern Real Estate Funds Management Company (SFN; formerly Sber Real Estate Funds). The SFN and PNK Group did not respond to Kommersant’s request. Sberbank noted that the management companies are no longer part of the group of companies.
SFN manages closed-end investment funds (ZPIF) that invest in shopping and entertainment, office centers and logistics complexes. According to Kommersant’s estimate, the total amount of funds in all rental real estate funds of the management company at the end of 2022 amounted to 62.92 billion rubles.
Now all closed-end mutual funds on the market feel a shortage of quality properties with a stable pool of tenants, so there is a high demand for such real estate among funds, Anastasia Kornevich, director of the warehouse property management department at Accent Capital, notes. At the same time, in 2022, the inflow of funds to retail closed-end mutual funds specializing in investments in commercial real estate increased sharply. According to Kommersant’s estimate, based on the reports of such funds, their assets more than doubled in 2022, from 39.6 billion rubles. up to 91.9 billion rubles.
Elvira Nabiullinahead of the Central Bank of the Russian Federation, in December 2020:
“We see how financial institutions are selling products that are not suitable for unqualified investors.”
According to Ms. Kornevich, it was warehouse facilities in 2022 that “became the best investment against the backdrop of rising inflation.” According to Egor Dorofeev, Head of the Warehouse and Industrial Real Estate Department at the Commonwealth Partnership, in 2021–2022, the average return on mutual funds with logoparks in their portfolio was 9–11%. But this did not even compensate for the official inflation rate, which, according to Rosstat, rose to 11.94% in 2022 and 8.4% in 2021.
At the same time, the warehouse in PNK Park Medvedkovo is not completely filled, which may affect the level of rental income. According to one of Kommersant’s interlocutors, the largest tenant of the CDEK complex, which occupied 33 thousand square meters in 2021. m, now reduced the amount of occupied space to 15 thousand square meters. m. SDEK told Kommersant that, in general, they did not refuse to rent space in the complex.
Evgeniy Bumagin, head of the department for work with warehouse and production premises at IBC Real, says that about 10 thousand square meters are currently free in PNK Park Medvedkovo. m of storage space. Partner «Ricci | Consulting and appraisal, Yana Kuzina believes that the FSC plans to offer shareholders the so-called value-added strategy, when unoccupied areas are purchased cheaper than they will cost after signing an agreement with the tenant. But it is important that the management companies disclose such information, since the shareholders of large closed-end mutual funds, as a rule, are non-professional investors. It often seems to them that the fund’s return is guaranteed under the same system as for deposits, although this is not the case, the expert notes.
But the areas in PNK Park Medvedkovo are in great demand, as now several tenants are applying for them at once, says Evgeny Bumagin. In addition, given the low vacancy within Moscow, they can be rented out at rates higher than predicted, the expert believes. Now, according to IBC Real Estate, within the boundaries of Moscow, the vacancy rate of class A and B complexes is only 2.5%, or 152,000 sq. m. m.
[ad_2]
Source link
