Andrey Gorodisskiy & Partners supported the increase of the capital of a commercial real estate sub-fund to RUB 8.8. billion through Telecom-5 — a joint venture of Sberbank PJSC and Rostelecom PJSC.
According to the agreement, both Sberbank and Rostelecom are contributing RUB 2.4 billion in their joint venture, each retaining 50 percent in stake. The transaction was arranged through Sberbank Investments LLC, a fully owned subsidiary of Sberbank PJSC.
The purpose of the capital increase is to exploit the real estate potential and development of the acquired 22 properties from Rostelecom that cover over 139 thousand square meters in Moscow, the Moscow Region, and St. Petersburg. The portfolio of the joint venture has been increased to 38 properties in eleven cities of Russia.
The joint venture of Sberbank and Rostelecom started in December 2016 with 16 properties in the portfolio. The AGP team also consulted on the transaction back then.
The AGP team was led by Partner Alexey Gorodisskiy and lawyer Jose Tobar.
AGP did not reply to our inquiry about the deal.