Storm Properties and Altai Capital, which in October last year raised private capital to buy a plot of land in Moscow, have received project financing from Sberbank's Srednerussky Bank.
Storm Properties and Altai Capital, which in October last year raised private capital to buy a plot of land in Moscow, have received project financing from Sberbank's Srednerussky Bank.
The loan will allow the companies to develop an international Class A business park on Kaluzhsky Highway, located about 2 km from Moscow’s ring road.
Named K2 Business Park, the scheme will consist of four seven-storey office buildings with a total rentable area of 74,000 m2. The project was designed by architects NBBJ, while Ant Yapi was selected as the general constructor, and Sawatzky as the property manager.
Construction of the first phase started in June and will be completed in the second quarter of 2014. The remaining three phases will be delivered in six-month tranches thereafter.
CBRE has been appointed as the exclusive marketing and leasing agent for the development.
