Private equity news

IMMOFINANZ Group has sold the logistics property “Tomilino” to SBERBANK, the largest Russian bank, for USD 39 million. Tomilino is located in close proximity to one of the most important arterial roads, the Moscow Ring Road (MKAD) in the southeast of Moscow. The property was completed in September 2008 and has total space of 53,000 sqm. The parties agreed to keep any further details of the contract confidential. As a whole, the investment at Tomilino has generated a considerable profit for the IMMOFINANZ Group.

The Tomilino sale thus represents another chapter in the already very successful history of IMMOFINANZ investments in the Russian capital. Just a few months ago the shopping centre Golden Babylon Rostokino, with 170,000 sqm of lettable space one of the largest shopping centres in Europe, was completed and opened, while for considerable time the portfolio’s three long-time shopping centres, Golden Babylon I and II and 5th Avenue, have been virtually let in full on a continuous basis.

Source: Immofinanz