DLA Piper Moscow has advised the ADG group on the acquisition of Russian cinema operator Modern.
The ADG group was founded in 2004 for the development of large regional centers in Russia. The company’s portfolio contains more than a million square meters of projects throughout the country.
Modern is an anchor tenant in the ADG group’s Neighbourhood Centres project, which the firm describes as "a new commercial real estate asset class" redeveloped from "39 outdated cinemas located in Moscow's densely populated urban areas" that were acquired by the ADG group in 2014. According to DLA Piper, “Modern, with its 33 cinemas, will offer a choice of Russian and international films on 160 screens.”
DLA Piper's team consisted of Partner Julien Hansen and Associate George Avery.