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ADG group, a Russian developer of urban spaces, is contributing a portfolio of 26 Class A commercial real estate assets to a newly formed closed-end mutual investment fund. These assets form Russia’s largest network of neighborhood centers, Meeting Place ("Mesto Vstrechi"), with a total area of 373,000 sq. m. The portfolio is valued at over 50 billion rubles.
The new closed-end fund is set to become one of the largest funds in the history of Russian commercial real estate. It will be managed by PARUS Asset Management. The fund is expected to be listed on the Moscow Exchange, making its units available to qualified retail investors. This will be the 11th exchange-traded fund managed by PARUS Asset Management.
The professional team of the Management Company "Mesto Vstrechi" (a subsidiary of ADG group) will continue to oversee the strategic development and day-to-day operations of the assets.
The professional team of the Management Company "Mesto Vstrechi" (a subsidiary of ADG group) will continue to oversee the strategic development and day-to-day operations of the assets.
- Grigory PecherskiyManaging Partner of ADG group“ADG group is evolving naturally. The company will not limit itself to real estate and will gradually transform into an investment holding company. ‘Meeting Place,’ our flagship trophy asset, is now becoming an investment product – a closed-end fund. This represents a new asset management model and a strategic milestone for us. Our partnership with PARUS opens a new chapter: thousands of retail investors will now have the opportunity to invest in this portfolio. We are confident in the success of this collaboration – PARUS is widely recognized as Russia's gold standard in real estate fund management.”
- Denis StepanovCo-founder of PARUS Asset Management“ADG group has delivered one of the most compelling examples of true urban transformation. Former Soviet cinemas have been reimagined and repurposed, once again becoming vibrant hubs for entire Moscow neighborhoods. Just as residents have come to love these spaces, I am confident that investors will appreciate this fund on the public market.”
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