the Metropolis business center will be purchased by the logistics operator Lidertrans – Kommersant
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The PPF Real Estate company (part of the Czech PPF Group) and the American investment company Hines entered into an agreement with the logistics operator Leadertrans for the sale of the Metropolis office complex on Leningradskoye Shosse. This was reported “Vedomosti” citing sources close to the deal.
The Metropolis business center is located in the Metropolis shopping center on Leningradskoye Shosse next to the Voykovskaya metro station. According to the publication, as part of the deal to purchase the complex, companies associated with Leadertrans created a new legal entity, BC on Voikovskaya. In the database “SPARK-Interfax” it is said that a company with that name was registered in mid-June of this year. The shopping center itself, formerly owned by Hines and a fund managed by Morgan Stanley, in April 2023 bought Armenian investment fund Balchug Capital.
The publication’s interlocutors do not rule out that Leadertrans will continue to lease out the complex’s space to third-party companies, and use some of the premises for its own offices. NF Group partner Stanislav Bibik, in a conversation with Vedomosti, estimated the cost of the complex at 25-30 billion rubles. The head of the capital markets and investment department of IBC Real Estate, Mikael Kazaryan, believes that Metropolis is worth €350-370 million (RUB 34-36 billion).
A Hines representative declined to comment to Vedomosti; representatives of PPF Real Estate and Leadertrans did not respond to the publication’s requests. At the same time, as Vedomosti notes, information about the facility has already disappeared from the official website of the Czech company.
Hines Russia & Poland Fund and PPF Real Estate acquired two buildings of Metropolis in 2015, the deal to purchase the third building was closed in 2018. In 2022, Hines Russia & Poland Fund and PPF Real Estate announced their intention to sell the complex. According to Vedomosti sources, several players were considering the acquisition, but only Lidertrans was able to reach an agreement.
How the departure of Western companies affected the Moscow office market – in the Kommersant article “Foreigners are leaving office”.
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