Russian holding company Tashir has completed the acquisition of the Europark shopping centre on Rublevskoe Highway in Moscow for around $60 mln (EUR 44.5 mln).

Russian holding company Tashir has completed the acquisition of the Europark shopping centre on Rublevskoe Highway in Moscow for around $60 mln (EUR 44.5 mln).

Tashir said that the property was acquired through the redemption of a loan provided by Deutsche Bank to the former owner who has entered into receivership. Tashir is also taking over the management of the centre.

Europark is the latest distressed property acquired by Tashir in Moscow. So far, the company has purchased seven development projects in the region and said it plans to invest over $1 bn to complete the projects. 'We have purchased all these projects at a significant discount, which is an example of a successful work under conditions of crisis', said Tashir Group vice-president Vitaly Efimkin.

Europark provides 47,000 m2 of total leasable area on three floors as well as 900 underground parking spaces. The centre has around 100 shops, including a Crazy Park playground for children, and a cinema.

In late 2009, Tashir joined forces with Avenue Group to complete the development of a specialised furniture centre which opened its doors in October on Moscow's Leningradskoye Highway.

Other major transactions include the purchase of the Seventh continent's share in the Shokolad shopping centre, due for opening in the quarter of 2010; as well as the acquisition of the Kronshtadtskiy complex in the Northern district of Moscow, a 50% stake in the Moscow city office and hotel complex, the Gazoil City residential complex and the Rio shopping and leisure centre on Leninsky Avenue.