Skip to main content

Armenian investment fund Balchug Capital confirms acquisition of two landmark commercial real estate assets

Written by Customer Service on . Posted in Mergers And Acquisitions.

  • Pulkovo Sky business center and Metropolis shopping center acquired
  • Assets of Balchug Capital are now $2 billion
  • Further plans to invest in high-quality real estate

YEREVAN, Armenia, July 03, 2023 (GLOBE NEWSWIRE) — The Armenian investment fund Balchug Capital has confirmed the acquisition of two landmark commercial real estate assets in Russia. It has purchased Pulkovo Sky, one of the largest Class A office buildings in St Petersburg, and Metropolis shopping center, one of the largest such malls in Moscow.

Both acquisitions were made by international investors who were divesting from Russia and were entirely legal under local and international law.

Pulkovo Sky business center, near Pulkovo airport in St. Petersburg, is 76,000 sq.m in size. It was purchased from Finnish investors EKE and Vicus. Metropolis shopping center in Moscow is 241,000 sq.m in size. It was acquired from leading American investors and is one of the most modern and popular shopping centers in the capital.

In neither case does Balchug Capital disclose the sum or the particulars of the transaction. However, analysts of the Russian market have stated that both are landmark transactions with Metropolis being the larger of the two. The moves have raised Balchug Capital’s assets to $2 billion.

David Amaryan, founder and CEO of Balchug Capital, said: “Many international investors who hold Russian assets and must divest from them face significant difficulties in doing so. This creates significant opportunities for investors in other countries who are legally able to purchase these assets. We are building a portfolio of the highest quality commercial real estate assets and plan to grow our assets to $3 billion by the end of the year.”

About Balchug Capital:

Balchug Capital is an investment fund headquartered in Yerevan, Armenia. It was founded in 2010 by David Amaryan, who serves as CEO and oversees all investment activity.

Media contact:

For further information please contact:

Tatevik Simonyan, Spring: tsimonyan@spring.am

 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.