Information on the target
The Closed-End Mutual Investment Fund (ЗПИФ) "Современная коллекция," managed by the company "Современные фонды недвижимости" (formerly "Сбер фонды недвижимости"), was established specifically for the acquisition of the controversially renowned business center "Белая площадь." This fund was formed in September 2025 and is accessible to non-qualified investors. The fund's primary asset is the "Белая площадь" business center, located in the Central Administrative District of Moscow. The property was put up for auction as part of the bankruptcy proceedings of its previous owner and was acquired by MBP, a company affiliated with Sberbank, which had the property under collateral.
The acquisition was completed at a price of 46.5 billion ₽, significantly lower than the initial bidding price of 61.9 billion ₽. The "Белая площадь" business center is classified as a Class A/Prime office complex, consisting of three buildings, and is expected to generate substantial rental income for the fund.
Industry overview in the target’s specific country
The commercial real estate sector in Russia, particularly in Moscow, has shown resilience despite economic fluctuations. The demand for high-quality office spaces remains robust, driven by the growth of various industries, including technology, finance, and professional services. Moscow's strategic location and status as a business hub attract both domestic and international companies, further fueling the demand for premium office spaces.
In recent years, the market has witnessed a shift towards flexible workspaces and modern amenities, prompting landlords to adapt their offerings. The trend towards hybrid work models has also influenced tenant preferences, leading to an increased focus on sustainability and energy efficiency in new developments. As a result, properties that meet these evolving demands are likely to experience higher occupancy rates and rental growth.
Furthermore, the Russian government's initiatives to stimulate economic growth and investment in infrastructure are expected to bolster the commercial real estate market. The ongoing development of transportation networks and urban infrastructure enhances accessibility, making prime locations even more attractive to businesses. This positive outlook for the sector bodes well for investment opportunities in high-quality assets like the "Белая площадь" business center.
The rationale behind the deal The acquisition of the "Белая площадь" business center presents a strategic opportunity for the "Современная коллекция" fund to capitalize on the growing demand for premium office spaces in Moscow. The property was acquired at a significant discount during the bankruptcy auction, allowing …