RCA in the commercial property press:


Morgan Stanley About to Close on Massive Russian Mall


Monday, January 16, 2012
Source: Bloomberg


Bloomberg reports: A Morgan Stanley real estate fund is in contract to acquire the largest mall in downtown Saint Petersburg for an investment of around $1.1 billion. Galeria Saint Petersburg was completed in 2010 and has over 1 million square feet of leasable area spread over five floors featuring global and local tenants.

According to Real Capital Analytics, Russian commercial sales totaled around $6.3 billion last year, down 15 percent from 2010 and 48 percent from more attractive times in 2008. Despite this, Russia’s lack of high quality mall space has fueled a recent retail boom.

Meridian Capital, and Capital Partners, a local Russian firm, are selling the center after appointing Jones Lang LaSalle to sell the property last June. The deal is scheduled to close later this month.


View the full article on Bloomberg: Morgan Stanley About to Close on Massive Russian Mall


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Posted by: Hermann Lademann

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