Sberbank acquires complex in Moscow for $300m

By A staff reporter 2009-02-10T00:00:00+00:00

Russian savings bank Sberbank has invested close to $300 mln (EUR 230 mln) in the acquisition of the Yuzhny Port office copmplex in Moscow from developer Midland Development, newspaper Vedomosti has reported. The centre, which is currently being renovated, comprises 57,000 m[sup]2[/sup] of office space that Sberbank has leased over the past years. Midland Development is a subsidiary of the Canadian Midland Group.

Russian savings bank Sberbank has invested close to $300 mln (EUR 230 mln) in the acquisition of the Yuzhny Port office copmplex in Moscow from developer Midland Development, newspaper Vedomosti has reported. The centre, which is currently being renovated, comprises 57,000 m² of office space that Sberbank has leased over the past years. Midland Development is a subsidiary of the Canadian Midland Group.