29 maaliskuu 2007, Germany, Berlin
Catella Makes Strategic Move into Russia
Gets Large Assignments and Opens an Office in Moscow
Catella Property Group AB, the leading Swedish property advisor and provider of asset management services, makes a strategic move into the growing Russian property market and opens an office in Moscow.
The booming Russian commercial real estate investment market, in combination with the recruitment of a highly qualified management team and some large initial assignments are the main reasons for establishing an office at this time. The Russian market is now on the verge of setting off in terms of potential with transaction volumes in 2006 exceeding those of 2003, 2004 and 2005 combined.
The office will be located at Puskin Square in the centre of the Russian capital, and will be up and running from April 1st 2007.
"Catella offers a different kind of service to the already existing property consultants. We see ourselves more as an investment bank than a pure brokerage house", commented Lennart Schuss, Deputy Chief Executive, Catella Financial Advisory Group in Stockholm.
"Our new local team, given their past experience in Russia, for instance at IKEA, will make them stand out from the crowd. They have a knowledge base that comes from being an owner and a developer - that's rare for a property consultant in any market. Our ambition is to be around 20 employees within the next 12 months."
The Russian operation will be branded Catella Corporate Finance and intends to act in an advisory capacity in the following areas:
Connecting local property owners and local developers with international investors
- Assisting and suggesting financing structures
- Development of land estate through efficient project management
- Assisting in establishing retail companies in the Russian market
- Asset management services for Russian Property Funds
"A shortage of investment products is leading investors to forward fund and/or acquire options on properties planned for development. We believe that both our expertise and proposed services will allow Catella Corporate Finance in Moscow to capitalise on this and offer a partially new product in the market place", said Andrew Smith.
Notes to the editors
Catella's management in Moscow
Local management of Catella Corporate Finance in Moscow will comprise two joint Managing Directors being Adam Fischer (34 years old) and Dan Eliasson (35 years old) who were both previously at IKEA Russia, based and living in Moscow. Both are Swedish nationals and both have a Master of Law from Stockholm University. Adam managed land acquisition and development in Russia for IKEA and Dan was head of legal for IKEA Russia in Moscow, responsible for legal matters within the IKEA group in Russia and Ukraine, as well as the development of supplier finance. Andrew Smith has been recruited to assist Catella Financial Advisory Group in the start up of the Moscow office and business development going forward. Andrew was previously employed by CBRE in Central and Eastern Europe and more recently by ING Real Estate Investment Management on the listed fund side acquiring in Europe.
Maks Grinfeld has been engaged by Catella Property Group as a senior advisor. He has a wide-ranging network and more than 20 years of experience of making business in Russia.
Current assignments in Moscow
Catella Corporate Finance in Moscow has already been mandated by clients. The two biggest sales assignments, with a total investment value of USD 2,500 million, are to arrange equity partners and financing for the construction of the most prestigious residential project in the Moscow region and for the construction of the biggest shopping center development in Moscow.
Another mandate is to assist Kingfisher in the acquisition of multiple sites throughout Russia for their big box retail outlets in a similar fashion to IKEA's expansion in Russia. Kingfisher is Europe's leading home improvement retail group and the third largest in the world, with leading market positions in the UK, France, Poland, Italy, China and Taiwan.