Avion Business Center passes to Alfa Bank as a debt settlement, Vedomosti was told by two consultants who worked with this facility. Another claims that the deal has already taken place. Representatives of Alfa Bank and A1 (Alfa Group investment division) declined to comment.
"Avion" with a total area of about 20,000 square meters. m is located next to the station. m. "Airport" on Leningradsky Prospekt. The complex was built by Horus Capital, the main owner of the PIK group, Sergei Gordeev. In 2010, the whole portfolio of this company was acquired by the structure of the ex-shareholder of FC Otkritie Boris Mints, who founded O1 Properties on its basis. The latter at the end of 2015 announced the sale of "Avion" for $ 1 Cyprus company Dilomana Ltd. Who is the ultimate beneficiary of this firm is not known. Three consultants who worked with the facility assure that the complex was still controlled by the structure affiliated with O1 Group. In the O1 Properties report, the Avion buyer is called a "related party". As a general rule, related parties may include individuals and their relatives who have control over the company or have a significant impact on its operations, as well as its key management, explains Rustam Kurmaev, partner of the legal company Rustam Kurmaev and Partners.
Representatives of O1 Group and O1 Properties told Vedomosti that the business center was sold three years ago to individuals, their companies do not disclose. But O1 Properties, they said, continued to manage the object. The management agreement for Avion expired at the end of the first half of this year, so the company does not have data on the current financial situation and the obligations of the business center, representatives of O1 Group and O1 Properties summarize.
From the financial report of O1 Properties for 2014 (later data is not available) it follows that Avion was actually mortgaged in Alfa Bank for a loan of $ 63 million. It was due to be repaid by the company in 2022. The company had no maintenance problems this object, says one of its partners. But, he said, Avion's market price is lower than the debt value, so the lender could demand additional collateral for the loan. Therefore, the complex was easier to give to Alfa Bank, than to continue to service the debt, Vedomosti interlocutor says.
Today Avion can cost about 2.5 billion rubles. (about $ 40 million at the rate of the Central Bank), the director of the capital markets department of Cushman & Wakefield Alan Baloev estimated. Stanislav Bibik, Partner of Colliers International, agrees with him: his estimate is 2.5-3 billion rubles. ($ 40-47 million). He adds that Avion is located in a very competitive area, with high-quality business centers such as Alcon, Arcus, Iskra Park and VTB Arena Park. All this affects both the size of rental rates in the facility, and its cost, says Bibik. However, in the medium term, the capitalization of Avion, according to him, can be increased by redevelopment of the center for an apartment complex or by selling it to the end customer.
The transition of Avion to the lender may be related to the problems faced by the O1 Group, says another partner of the group. The Group may assign control over O1 Properties to Cyprus Riverstretch Trading & Investments (it is associated with Rosneft and GC Region) to settle a debt of 25 billion rubles. At the same time, Mintz and his family are now in London, and in relation to O1 Group there is a pre-investigation check on the application of the bank's predecessor, FC Otkritie.
Alfa-Bank over the past few years for the debts passed a large number of commercial real estate. To sell it, the head structure of the bank, Alfa Group, created the Alta Plus company, which has already collected more than 400,000 sq. M. m commercial, office and warehouse complexes, as well as about 500 hectares of land.