OGIER ACTS ON MAJOR RUSSIAN DEAL
12 Aug, 2011
Ogier London acts for UFG Asset Management on major Russian transaction
The Ogier London team has acted as Cayman Islands legal advisor to UFG Asset Management on a major transaction to acquire 100% of a portfolio of commercial real estate assets in Moscow.
The portfolio consists of three properties with total gross leasable area of 40,000 sq. m.: two Class A office buildings and a retail cluster. The buildings are situated in the centre of Moscow and are fully leased out to reputable tenants including Gazprom Export and international pharmaceutical companies.
The seller of the assets was a leading Russian real estate developer Capital Group. The investment is part of the re-affirmed conservative investment strategy of UFG Real Estate Fund II to invest in high quality commercial real estate assets with central locations (primarily in Moscow) and a quality tenant base.
London partner Oliver Godwin said, “We are delighted to have been instructed by UFG on this successful real estate transaction. From our perspective, it was interesting to see a significant piece of prime real estate work in the Russian market and we look forward to our continued relationship with UFG.”
Ogier is the only offshore firm offering legal and fiduciary services that has a substantive presence in the four leading offshore centres – BVI, Cayman, Guernsey and Jersey.