×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Abramovich in $800M Real Estate Deal

Billionaire Roman Abramovich is close to buying one of the biggest top-end office complexes in Moscow for up to $800 million in what would be Russia's second-largest office deal, according to three sources.

White Gardens, a development comprising two buildings in Moscow's business district, is the second stage of the White Square complex recently bought by O1 Properties for about $1 billion.

The sellers, a consortium of developer AIG/Lincoln and Russian bank VTB Capital, are close to selling White Gardens to Abramovich's investment vehicle Millhouse, two sources close to the deal and a market source said.

The complex, offering 64,000 square meters of space of which one third is already leased, is due to be completed in 2014, according to Moscow property consultants. The tenants include law firm Baker & McKenzie and private equity firm Baring Vostok.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more