Clan Rotenberg removed from Kiev

The company "TPS Real Estate", controlled by Lilia Rotenberg, sells a large shopping center Ocean Plaza.
"TPS Real Estate", controlled, including by the daughter of Arkady Rotenberg, Lilia, is ready to wind down its business in Ukraine and sell the center of the Ocean Plaza. Negotiations on its purchase are conducted by the local Dragon Capital, the last two years actively buying up commercial real estate in the country. This asset the Russian company can sell for $ 270-315 million: approximately the same amount the object was estimated six years ago, when the TPN entered the local market.

TPS Real Estate, controlled by Lilia Rotenberg, Alexander Ponomarenko and Alexander Skorobogatko, is negotiating with Ukrainian Dragon Capital (DC) to sell the shopping center Ocean Plaza (165,000 sq. M.) In Kiev, told Kommersant two consultants on the commercial market real estate. According to them, the negotiations are at an advanced stage, but the deal has not yet been closed. "A potential buyer is looking for a lender. This takes time, as local banks have problems with liquidity, "one of the interlocutors of Kommersant notes. In the "TPN Real Estate" did not respond to the request "b". In Dragon Capital declined to comment.

Dragon Capital was founded in 2000 by Tomas Fiala. Now, according to the Ukrainian media, the company's portfolio, in particular, is the Victoria Gardens shopping mall in Lviv (48.2 thousand sq. M.), The Class A logistics complex East Gate Logistic in Borispol, 60% in the Class A logistics complex West Gate Logistic in the village of Stoyanka, a warehouse complex in Bucha, the trade center "Pyramid", business centers "Prime" and "Eurasia" in Kiev. Office centers Dragon acquired in the autumn of 2017 from BTA Bank, the amount of the deal was not disclosed.

"TPN Real Estate" publicly announced itself in 2012, then in the company's portfolio there were three under construction centers in Sochi ("SeaMall"), Krasnodar and Novosibirsk (shopping centers "Gallery"). In 2016 in Moscow, the company's own shopping centers "Okay!" And "Oceania" were earned. Six years ago, TPN began to manage the Ocean Plaza in Kiev. According to Kommersant sources, TPS acquired this facility, the deal was valued at $ 280 million.

The intentions of the TPS to withdraw from the Ocean Plaza became known in 2014, when the US and the European Union announced sanctions against Arkady Rotenberg, who was among co-owners of TPS Real Estate Holding (owned by TPS Real Estate). Then in the list of shareholders appeared his son Igor, in April of this year, instead of him, the daughter of Rothenberg, Sr., Lilia became a shareholder. An additional factor was the aggravation of relations between Russia and Ukraine. In 2014, local media reported on the proposal of a scandalous Ukrainian businessman Igor Kolomoisky to nationalize the Ocean Plaza.

The Ocean Plaza is one of the most important trade centers in Kiev, such as Metropolis, consultants say. Managing Partner of Vanchugov and Partners, Alexei Vanchugov, says that he is perfectly located, in an area with low competition. He estimated his market value of $ 270-315 million Ocean Plaza is attractive for local investors, for foreign political risks may be insurmountable, the expert believes.

According to JLL, activity in the Kyiv retail market has been growing over the past two years amid the recovery of macroeconomic indicators. In 2017, the first stores of Under Armor, Superdry, Tous, Scotch & Soda, Liu Jo opened in the country, the opening of the debut stores H & M, IKEA, Decathlon, Koton, Zara is expected. The volume of the offer is limited. Last year, not a single new shopping center opened, this year 101 thousand sq. M. m. The vacancy fell from 9.7% in the first quarter of last year to 4.5% at the current time. The market volume of quality shopping centers is only 1 million square meters. m of rented space, five times less than in Moscow. The maximum rental rates for the first quarter of this year grew by 6% and exceeded $ 1 thousand per 1 sq. Km. m per year, approaching the pre-crisis level of 2010-2013.