UFG Real Estate said it has sold two plots of land in its Fyodorovskoe Industrial Park project located south of St Petersburg, Russia, for an undisclosed amount. The company added that it is realising an aggregate net Internal Rate of Return of 67.75% from the disposal. The two sites were sold to a Russian manufacturer and a logistics provider.
UFG Real Estate said it has sold two plots of land in its Fyodorovskoe Industrial Park project located south of St Petersburg, Russia, for an undisclosed amount. The company added that it is realising an aggregate net Internal Rate of Return of 67.75% from the disposal. The two sites were sold to a Russian manufacturer and a logistics provider.
UFG acquired the 121 ha of industrial land in July 2007 and divided it into 30 smaller lots for individual users, of which four were sold in July-August 2008. The project for the site was made by Hamburg-based engineers WTM. The project is owned by UFG Real Estate Fund II, which raised $150 mln (EUR 114 mln) at first closing last year.
