MLP, a member of Mikhail Gutseriev’s Safmar group, is preparing to buy the Krekshino logopark in New Moscow, which is estimated at 9-11 billion rubles. After this deal MLP will become the largest warehouse owner in Russia
The Federal Antimonopoly Service has approved a petition for the sale of the Krekshino warehouse complex in New Moscow, follows from materials on the agency’s website. The buyers are companies associated with the logistics operator MLP, which is part of the Safmar group of Mikhail Gutseriev. Now the warehouse complex “Krekshino” belongs to the Malltech company (until 2016 it worked under the brand name “RosEuroDevelopment”).
Safmar and Malltech declined to comment.
The total area of the logopark is 251.2 thousand sq. m, of which 249.2 thousand are suitable for rent. Among the tenants of the complex are the producer and distributor of alcoholic beverages Beluga Group, the importer of Luding wine, and the Beethoven chain of pet stores.
Who is the buyer and who is the seller
A petition to the FAS for the purchase of 100% of Woodwell Investments Ltd was submitted by Stik JSC and Cyprus-based Levetor Trading Ltd. The first buyer is controlled by MLP Invest Ltd registered in the British Virgin Islands and operated by the Russian MLP LLC (International Logistics Partnership), which enters to the Safmar group of Mikhail Gutseriev. Among the ultimate owners of Levetor Trading Ltd, Gutseriev himself follows from the data of the Cyprus register of companies.
Cyprus-based Woodwell Investments Ltd through the Russian LLC Phoenix-K, according to Rosreestr, owns the Krekshino logopark. This is the only warehouse complex in the portfolio of Malltech specializing in retail real estate. Other assets of Malltech include the Leto shopping malls in St. Petersburg and Aura in Novosibirsk, and the Planeta shopping centers in Novokuznetsk, Krasnoyarsk and Ufa.
Malltech is one of the largest Russian rentiers according to Forbes’ Real Estate Kings 2020 rating. According to the publication, the company over the past year earned $ 90 million on lease. Among its owners is Goldman Sachs bank. The co-owners of the company also called former shareholders of Rosevrobank Sergey Grishin, Andrey Suzdaltsev and Ilya Brodsky. This is also indicated by the data of the Cyprus registry: among the co-owners of Woodwell is Red Industrial Ltd registered in Cyprus, of which Grishin is one of the directors. About 23% of Red Industrial Ltd belongs to Suzdaltsev, almost 25% is owned by Goldman Sachs Group.
Malltech itself does not disclose the ownership structure.
Irina Ushakova, director of the capital markets and investment department of the CBRE consulting company, estimates the cost of the Krekshino warehouse at 8.5-9.5 billion rubles, Knight Frank’s estimate is 10.5 billion rubles. Sayan Tsyrenov, director of real estate transactions support at the Russian office of PwC, speaks of 10-11 billion rubles, noting that, although the logopark was built in 2007-2012, it is in demand among tenants due to its favorable location.