Marbleton Property Fund and Storm Properties Announce a Joint Venture for a US $200 million Suburban Office Development Park in Moscow
02 Oct 2007
Moscow, October 02, 2007 – The Marbleton Property Fund, co-sponsored by
JER Partners (“JER”) and Alfa Capital Partners (“ACP”), has formed a joint
venture with Storm Properties to develop a 100,000 m² suburban office park on
the outskirts of Moscow. The joint venture recently acquired a 9 hectare land plot
for the project.
JER is the global real estate investment arm of the J.E. Robert Companies. ACP
is the Moscow-based private equity and real estate investment group affiliated
with Alfa Group Consortium. Storm Properties is a PIK Group Company, a leading
Moscow-based residential real estate development company with a listing in
London and Moscow.
The US $321 million Marbleton Property Fund had its final closing in mid June
2007 and focuses on investments across all property sectors in Russia, Ukraine
and the CIS and purchases existing properties as well as participates in
development. The Marbleton Property Fund benefits from JER’s 26 years of
experience in investing and managing real estate combined with ACP’s and Alfa
Group’s wide network of relationships, and its extensive local market knowledge
and investment expertise.
Storm Properties offers a full range of development, investment and asset
management services. Currently, Storm Properties has approximately 450,000
m2 under development. At the end of August, a 50%+1 share of the company
was acquired by PIK Group.
Malcolm Le May, President Europe at JER Partners, commented: “We strongly
believe that this transaction offers an opportunity to capitalise on the supply and
demand imbalance for high quality office space in Moscow in general and a trend
toward more efficient and less expensive space outside of the city limits“.
Richard Sobel, Chief Investment Officer of Alfa Capital Partners said: “We are
delighted to have Storm Properties as our partner in this highly attractive deal.
They are clearly one of the best-in-class development companies. A
combination of their outstanding market knowledge, their local relationships, their
experienced team and their track record in the business park development make
them an extremely valuable partner for us“.
Michael Belton, President of Storm Properties said: "We are excited to work with
the Marbleton Property Fund to be able to combine our knowledge of the local
real estate market with the international pedigree of the Marbleton team".
About JER Partners (“JER“)
JER Partners is the private equity investment arm of the J.E. Robert Companies,
a real estate investment management company founded by Joseph E. Robert, Jr.
J.E. Robert Companies has 26 years of experience in sourcing, underwriting and
managing a broad spectrum of real estate equity investments and debt products.
JER Real Estate Advisors (UK) Limited is regulated by the Financial Services
Authority for investment business. For more information on JER, please visit
http://www.jer.com/
About Storm Properties
Storm Properties, a PIK Group Company, is one of Moscow’s leading real estate
developers providing full range of development, investment and asset
management services. Storm Properties possesses extensive international
experience in development of projects over the complete spectrum of the real
estate market: Class A Office Buildings, Retail and High-end residential
developments, covering not only the Moscow region, but the whole of Russia.
Storm Properties employs over 60 real estate professionals and has
approximately 450,000 m2 under development. For more information on Storm
Properties, please visit http://www.storm.ru/
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