Russian state-owned transport monopoly Transneft is believed to be closing the acquisition of the 54-storey Evolution Tower in Moscow for $1.3 bn (€1.2 bn).
Russian state-owned transport monopoly Transneft is believed to be closing the acquisition of the 54-storey Evolution Tower in Moscow for $1.3 bn (€1.2 bn).
The double-helix DNA-shaped scheme provides around 145,100 m2 of space, 62,000 m2 of which is used for offices with the rest comprising a shopping centre in the Moscow-City business district.
Transneft is considering relocating its office in the property, which is being sold off market by Russian property company Snegiri. The vacancy rate in the building is 25%.
If closed, the deal would be one of the largest office transactions ever closed in the Moscow real estate market and would help stabilise the vacancy rate in the Moscow-City business district, which currently stands at over 35%, according to market experts.