Polonsky Sells Khimki Land

Mirax Group founder Sergei Polonsky is selling land in Khimki, including some along the route of the disputed Moscow-to-St. Petersburg highway, Kommersant reported Wednesday.

Polonsky and Azimut Hotel group chief Alexander Klyachin co-own more than 700 hectares worth about $420 million in the district just north of Moscow. About 140 hectares of it is now being sold for between $6,000 and $8,000 per 100 square meters, about 40 to 50 percent below the market price. Sources linked the sale to Mirax Group's debt, which runs to $593 million, the paper said.


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