Raven Buys $215 Mln Moscow Logistics Park

Raven Russia Limited, a U.K. registered class-A warehouse complexes owner and developer, is to acquire the Pushkino logistics park near Moscow for $215 million, the firm said on Wednesday.

The British company plans to raise $104 million from a new share issue and use $86 million from this sum to finance the deal and also raise a $129 million loan for the purchase. The loan will be secured by the park’s share package, the firm said in a statement.

The park’s leasable area amounts to 213,000 square meters which gives an annual income at $24.75 million. Cushman Wakefield consulting firm estimated the Pushkino logistics park’s value at $228.91 million.

Raven Russia operates nearly one million square meters of class-A warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk and also holds 368 hectares of land across Russia and the CIS available for future development.


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