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CJSC MC Dynamo has sold one of its office buildings erected as part of the VTB Arena Park project.
The subject of the transaction was a building of total floor area above 9000 square meters and 145 underground parking spaces.
The buyer was represented by the structures close to Igor Rybakov. Convenient location, high quality of the building, its proximity to the developed commercial, entertainment and recreational infrastructure are just some of the advantages highly appreciated by the buyer during the negotiations.
Senior Vice President of VTB Bank, General Director of CJSC MC Dynamo and the head of VTB Arena Park project Andrei Peregoudov: “For our project, this is the first transaction in the office real estate segment. We are satisfied by the conditions of our partnership in this transaction. As it was mutually agreed, we are not disclosing the exact figures and commercial terms and conditions, but I can say that the transaction was closed with a premium to the current market of analogical Class A office buildings, and all negotiations were conducted without any real estate brokers. So, the ice is broken, the work is going on.”
“The acquisition of a Class A office building in VTB Arena Park project located in the historical green area in the very center of Moscow and harmoniously combining entertainment, sports, residential and recreational infrastructure is a good investment: the estimated capitalization rate of this asset will be above 12%, but most of all this building will be a convenient location for Rybakov Foundation – a group of organizations comprising an ecosystem for supporting common utilization of social resources for the public benefit”, commented on Igor Rybakov.
The transaction was administered by TNCapital, an investment company controlled by Igor Rybakov.
VTB Arena Park
VTB Arena park is a project of complex territory development that includes the construction of the Multifunctional Sports and Concert/Entertainment Complex (VTB Arena and Dynamo Central Stadium), the Dynamo Sports Academy, Arena Park residential area and the Dynamo Sports Park. The area of the project under construction is about 32 ha.
Dynamo Central Stadium was built in 1928. Since then, it was extended several times and reconstructed two times: before the 1980 Olympic Games and before the 1998 World Youth Games. Today, the Dynamo Central Stadium is undergoing the largest reconstruction in its history. Instead of the old stadium there will be a new Sports and Concert/Entertainment Complex that will comprise the Dynamo Central Stadium named after Lev Yashin, the mixed-use arena, the recreation and entertainment center, the Dynamo Society Museum and an underground parking.
The football stadium will be able to accommodate about 27 thousand people.
Capacities of the mixed-use arena: 11,500 seats – hockey configuration; approximately 13,000 seats – basketball configuration; 14,000 seats – concert configuration. Total area of the recreation and entertainment center: 30,000 square meters. Underground parking: 720 parking spaces.
The VTB Arena Park project also includes construction of the Dynamo Sports Academy, landscaping of 8 ha of the Dynamo Sports Park and construction of the Arena Park residential area.
The Dynamo Sports Academy is designed as an athletic training complex with a total area approximately 58,000 square meters and includes two hockey rinks, a gymnastics hall, gym halls for combat sports, squash, team sports, fencing, and a medical recovery center. Underground parking: 820 parking spaces.
The Arena Park residential area consists of 13 buildings, including Dynamo Society headquarters, hotel Hyatt Regency Moscow Petrovsky Park with 297 guest rooms and 56 luxury class furnished apartments, 4 office buildings and 6 apartment buildings. The total area of over 1000 apartments is above 190,000 square meters, three office buildings are from 9,000 to 12,000 square meters and one office building is almost 39,000 square meters. The parking under the sports part of VTB Arena Park and the residential area will be able to accommodate up to 4000 cars. The ground floors of the buildings will be occupied by coffee shops, banks, retail facilities, communal services and amenities, leisure and education centers for children.
Igor V. Rybakov is a Russian businessman listed in Forbes’ Richest People of Russia, co-founder and co-owner of TechnoNICOL Corporation, founder of investment company TNCapital and co-founder of “Institute of Economic Development Acceleration (Rybakov Foundation)”.
TechnoNICOL Corporation, founded in 1992, is one of the largest international manufacturers of reliable and effective construction materials. The company offers new technologies combining the world experience and developments of the company’s own R&D centers. Cooperation with designers and architectures allows TechnoNICOL to be fast and flexible meeting the demands of the market.
TNCapital is a private investment company controlled by Igor Rybakov. TNCapital’s activities are focused on building a diversified investment holding in Russia addressing the development of promising companies which growth promotes technical development of the Russian industry and improves social environment and ensuring a general growth of the Russian economy and wealth of the Russian citizens.
Rybakov Foundation is a group of organizations comprising an ecosystem for supporting common utilization of social resources for the public benefit. It was founded by Igor Rybakov and Ekkaterina Rybakova in 2015 and operates on the principle of proactive philanthropy: it identifies the objectives on the path of advancing the Russian society and economy, then initiates and develops in-house programs to fulfill these objectives. The Foundation’s programs are targeted at modernization of public education, supporting social projects, promoting business activities. The Foundation’s mission is fulfilling of long-term goals of Russian society by tapping into finest qualities of our compatriots.
VTB Arena Park
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