Eastern Property Holdings Limited announces the acquisition of full ownership of Class A office complex Severnoe Siyanie
30 September 2014, Road Town, Tortola, BVI
Eastern Property Holdings ("EPH" or the "Company") announces the acquisition of full ownership of the Class A office building Severnoe Siyanie located in one of the most developed business districts in the North of Moscow. The transaction price for 100% of the property amounts to US$ 152.8 million and is based on the market value of the property and adjusted for the net debt of the acquired holding company.
Severnoe Siyanie is located in one of the most developed business districts in the North of Moscow, inside the Third Transport Ring Road, one of the city`s main traffic arteries, and in immediate proximity to Savelovskaya Metro station. The building has been constructed in 2006 with 14 above ground levels and was fully renovated in 2012. Severnoe Siyanie with a total leasable area of approx. 30,000 sqm is almost 100% rented out to a mix of international and Russian tenants. The main tenants at the building are BNP Paribas, Heineken, Omron, Pioneer, Samsung and Rosagroleasing.
Following the strategy of acquiring income producing properties in Moscow and with investment parameters such as excellent location, high quality of the building, low or no vacancy rate and diversified tenant mix, the acquisition of Severnoe Siyanie further strengthens the Company`s portfolio.
Eastern Property Holdings Ltd. is an investment company listed on SIX Swiss Exchange which holds interest in office, residential and retail properties principal in Moscow. EPH is managed by Valartis International Ltd. a wholly-owned subsidiary of Valartis Group AG.
Additional information on Eastern Property Holdings is available by contacting Anna Bernhart Tel: +41 43 336 8111.
EPH_Acquisition of Severnoe Siyanie
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Source: Eastern Property Holdings Limited (EPH) via GlobeNewswire
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