News
Kachkin & Partners supported a warehouse sale transaction with total area of over 31 thousand sq. m for Sirin Development
SIRIN Development, an industrial real estate developer has sold a warehouse complex Logopark M10 in St. Petersburg with over 31,000 sq. m area to a group of private investors.
Kachkin & Partners attorneys at law represented seller’s interests. By the way, Sirin Development has earlier sold the neighboring warehouse complex Nordway with 110 thousand sq. m. area.
Experts from Kachkin & Partners provided legal support to the seller during transaction in terms of real estate sale contract approving and concluding. Ensuring services provision continuity to tenants who used the warehouse complex was a fundamental condition of the sale transaction. Considering this, the parties worked out the nuances of transferring the object in deep details to provide uninterrupted operation of the warehouse complex, including utilities supply and termination/occurrence of bank secured obligations.
Dmitry Nekrestyanov, Partner and Head of Real Estate and Investments Practice, considers the demand for warehouse real estate to be sustainable, “Today we are seeing high activity in A-class warehouses real estate market due to deficit of good quality A-class warehouse spaces and insignificant impact of coronavirus restrictions on investments in warehouse real estate. It was our pleasure to support Sirin Development with both warehouse complexes sale, which together became the largest transaction in warehouse real estate market in the North-West region”.
PhD in Law
Partner
Head of Real Estate and Investments Practice
Attorney
PhD in Law
Partner
Head of Real Estate and Investments Practice
Attorney