Global law firm Dentons advised on the Austrian joint venture sale of two office towers at the Airportcity St Petersburg business centre for €80 mln.

Global law firm Dentons advised on the Austrian joint venture sale of two office towers at the Airportcity St Petersburg business centre for €80 mln.

The transaction was first signalled in February and completed on 19 November. It involved private Russian pension fund Blagosostoyanie buying two buildings, Jupiter 1 and Jupiter 2, offering roughly 16,800 m2, and associated lots of land from Avielen, a joint venture between the real estate developer Warimpex, investor-developer CA Immo Group, and builder-developer UBM.

Avielen and its shareholders were represented by global law firm Dentons. St Petersburg real estate team partner Karina Chichkanova led the transaction, assisted by counsels Oleg Lovtsov and Olga Uriupinskaya and associates Arina Dovzhenko, Tair Suleymanov and Svetlana Shlyunko.

Chichkanova said Dentons had worked on the transaction for a year. 'The transaction included, amongst other things, advising on the sale, lease, shareholder loans, guarantees and bank financing matters and resulted in more than twenty agreements being signed over the course of the project.'