Each partner has committed €10 million in equity capital to the venture, called Metropolitan Properties, which will invest in value-add properties and then begin redeveloping, repositioning and retenanting them.
"We see strong demand by retailers who are targeting the dynamic consumers throughout Ukraine," said Richard Sobel, CEO of Moscow-based Alfa Capital Partners, a private equity investment firm that is a co-founder of Marbleton Property Fund. "We look forward to working with local and international retailers as they grow and expand their businesses, particularly in Ukraine's regional cities."
The venture brings together investors from the US and Europe. Marbleton's other co-founder, McLean-based JER Partners, is the private equity investment arm of the J.E. Robert Companies. The fund, which closed in June 2007, invests in all real estate sectors in Russia, the Ukraine and other Commonwealth of Independent States countries.
Griffin Investment Partners, which develops and manage real estate in Central Europe, has implemented this strategy in its home country of Poland and is looking to expand into Ukraine and other CIS countries.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
