16. Juni 2010 
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First institutional investment transaction since 2008
Jones Lang LaSalle has advised Akron Group on the investment sale of Bakhrushin House business-centre to UFG Real Estate.
Bakhrushin House is a business centre located at 32-1 Bakhrushin Street, across the Garden Ring from Paveletskaya Railway Station, a prominent central business district in Moscow. The Class A building, with a gross area of 5,078 sqm, was constructed in 2002 and has institutional Western and Russian tenants including but not limited to BBC Russia, VTB 24, Megafon and Russia Consulting, a German consulting company.
Thomas Devonshire-Griffin, National Director, Head of Capital Markets, Jones Lang LaSalle: “We are delighted to have help advise Akron Group on the first institutional office investment transaction this year. The market has been somewhat dominated by owner occupiers over the last 18 months, and therefore the significance of this transaction is more than being the first this year – it is the first transaction where an institutional investor UFG Real Estate, acquired the asset from a foreign seller Akron Group since the beginning of the economic turmoil. Whilst Russian equity is still in the majority, and UFG are longstanding in the market, this transaction is an indicator of a return of stability and increased foreign capital flows into Moscow.”
Bakhrushin House is a business centre located at 32-1 Bakhrushin Street, across the Garden Ring from Paveletskaya Railway Station, a prominent central business district in Moscow. The Class A building, with a gross area of 5,078 sqm, was constructed in 2002 and has institutional Western and Russian tenants including but not limited to BBC Russia, VTB 24, Megafon and Russia Consulting, a German consulting company.
Thomas Devonshire-Griffin, National Director, Head of Capital Markets, Jones Lang LaSalle: “We are delighted to have help advise Akron Group on the first institutional office investment transaction this year. The market has been somewhat dominated by owner occupiers over the last 18 months, and therefore the significance of this transaction is more than being the first this year – it is the first transaction where an institutional investor UFG Real Estate, acquired the asset from a foreign seller Akron Group since the beginning of the economic turmoil. Whilst Russian equity is still in the majority, and UFG are longstanding in the market, this transaction is an indicator of a return of stability and increased foreign capital flows into Moscow.”
