Dragon Capital buys Kiev SC Aladdin for $23 million

Meyer Bergman investment fund has agreed with the investment company Dragon Capital on the SC Aladdin sale.

Kiev SC Aladdin plans to buy Dragon Capital – three experts – the shopping centers’ chain top-manager, the investment company head and a real estate consultant – told to LIGA.net. The contract has not yet been signed, but the parties have already agreed on the transaction amount – $ 23 million. The Dragon Capital new acquisition is located next to the SC Pyramid on Poznyaky, which the Tomas Fiala company bought two years ago.

Three applicants

The Meyer Bergman investment fund put up for sale the SC Aladdin in May. The sales consultant was Cushman & Wakefield, and the mall itself was valued at $ 22-23 million.

The object was interested in three potential buyers – the interlocutor familiar with the course of negotiations said. “Meyer Bergman gave preference to Dragon Capital, as it had already conducted such deals. As far as I know, the parties have reached agreement, but have not yet signed the contract”, – the investment company head says to LIGA.net as anonymity. He says one Ukrainian and one foreign company were also among the applicants.

Rental square SC is 10,571 sq., it there are 120 stores in it. Vacancy in Aladdin is less than 1%. About 325,000 people are visited every month the SC, which is located near the metro station Poznyaki. The Dragon Capital press-service informed it did not comment on the rumors. Cushman & Wakefield declined to comment, promising to provide its later.

Active buyer

The SC Aladdin is a bargain for Dragon Capital – Atlas Advisors partner Alexey Raschupkin considers. “The demand for premises in shopping centers is growing in Kiev, this is an attractive object”, – he says.

In the year first half the vacancy on the Kiev trade market decreased from 5% to 4%, according to the consulting company NAI Ukraine. New chains are appearing on the market. This year alone, H & M, Koton, DeFacto, Zara Home, Livly, AllSaints, Santoni, Jo Malone, Kilian opened its stores in Kiev. All of its rent premises in shopping centers. Next year, IKEA will open its first store in Kiev in the Ocean Mall.

Dragon Capital already owns the SC Pyramid, which is located not far from the SC Aladdin, the UTG consulting company President Vadim Neposedov reminds to LIGA.net. “The SC Aladdin buying is a reasonable step by Dragon Capital. Management by two objects in one location will allow coordinating actions and not worsening the work of any of the two shopping centers. Two assets value will increase thanks to coordinated actions”, – Neposedov says.

Dragon Capital is the most active buyer in the Ukrainian commercial real estate market. “The company announces new properties purchases literally every quarter”, – Neposedov says. This year alone, the company acquired the SC Victoria Gardens in Lvov, Sky Park in Vinnitsa, and a business-center on Bolshaya Vasylkivska in Kiev.

Source: LIGA.net

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