Sale of Zarechie office complex
30.07.2015

ICT Holding Ltd (ICTH) has completed the sale of the Zarechie office centre. The deal was structured through the additional issue of O1 Properties Class B shares, which were transferred to ICTH. As a result, ICTH increased its ownership of O1 Properties Class B shares from 24.5% to 29%.

Zarechie is located in Moscows historic downtown, one metro stop from the Kremlin. The facility comprises of two buildings with a total area 15,517 sq. m. and 91 parking lots. The net rentable area of the office centre is 14,557 sq. m. The entire facility is leased up for a 10-year period.

The construction of the first building was completed in 2009. The second one - that was built 1932 and was used as a manufacturing facility in Soviet times - has undergone reconstruction based on Kleinewelt rchitektens design. The reconstruction is due to be completed in 2015.


Source:  Moscow