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Russia poised to rev up retail deal engine

Posted on 07 November 2012

A number of big-ticket shopping centres are currently in the deal pipeline in Russia, according to brokers active in the region. In terms of investment, Maxim Karbasnikoff, C&W’s recently appointed retail agency partner in Moscow, expects 2012 will match last year’s record of $7.5 bn (EUR 5.8 bn) with a number of sales due to come through by the end of this year or the first months of 2013.
Last year, the acquisition by Morgan Stanley Real Estate Investing of the Galeria shopping and entertainment centre - the largest retail scheme in St. Petersburg - for a price tag in the region of $1.1 bn (EUR 0.8 bn) gave a significant boost, and more large transactions are likely in the next 12 months, Karbasnikoff said………………………………………..Full Article: Source


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