Goltsblat BLP acts on major new Moscow hotel project for Akfen Holding


Goltsblat BLP acted for Akfen Holding and its group on the acquisition of Russian company OOO Severny Avtovokzal.

Severny Avtovokzal holds rights and building permits for a hotel project, to be built on a 2,010 sq. m site at 37, Leningradsky Prospect in Moscow city centre. Akfen REIT, part of Turkish diversified group Akfen Holding, will start a project to build a 317-room ibis Hotel in Moscow by the end of September 2013 . Akfen owns ibis hotels in Yaroslavl, Kaliningrad and Samara, and this new Moscow hotel will bring the number of hotels in Akfen REIT’s portfolio to 20.

Anton Panchenkov, Head of Group in the Corporate team at Goltsblat BLP, led a team of lawyers which included Mikhail Tararouev and Kamilla Zagidullina. Anton commented “we are delighted with the results on this project, which went very smoothly and marks an exciting new development in the Moscow hotel construction market”.

Client partner Ian Ivory commented “Akfen is a great company to work with and we are very pleased to work with them again on such an interesting project. We have worked closely with Akfen on a number of deals across Russia now. This latest project is another good example of more inward investment into the Russian economy and again shows signs that deal activity is picking up”.

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