SOFAZ to lease part of Gallery Actor in Moscow

SOFAZ to lease part of Gallery Actor in Moscow
20:52 18 Dekabr 2015
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Baku, Azerbaijan, Dec. 18

By Maksim Tsurkov – Trend:

The State Oil Fund of Azerbaijan (SOFAZ) plans to lease a certain part of the Gallery Actor, mixed-use office and retail complex in Moscow, to the famous world brand for 32 years, SOFAZ told Trend Dec. 18.

"Three floors of the building are planned to be leased,” SOFAZ said. There are shopping facilities on these floors. This will have a positive impact on the cost of the building and SOFAZ’s investment yield.”

Some Russian media outlets have recently reported about the closing of the Gallery Actor in early January 2016.

SOFAZ purchased 100 percent of "Tverskaya,16" company, the owner of Gallery Actor, mixed-use office and retail complex located on Pushkin Square.

The transaction is valued at $133 million. The seller was Metropolitan Insurance Group, part of VTB Group.

Office and retail complex Gallery Actor with the total area of 18,075 square meters is located in historical center of Moscow. Tverskaya Street is a prime location for exclusive hotel and office schemes as well as main Moscow street-retail destination where flagship stores of many international retailers are located.

The asset is located at the intersection of Tverskaya Street and Strastnoy Boulevard, in close proximity to the Red Square and the Kremlin. Actor Gallery was built in 1881 and was completely reconstructed in 1995 behind the historical façade. The asset is leased to a number of finance, insurance, consulting and retail companies.

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