Ukrainian real estate firm XXI Century Investments has announced that its 50.01% subsidiary, IC XXI Century Kharkiv, has entered into an agreement to sell its interest in Business Centre Kobzar in Kharkiv, Ukraine's second largest city.
Ukrainian real estate firm XXI Century Investments has announced that its 50.01% subsidiary, IC XXI Century Kharkiv, has entered into an agreement to sell its interest in Business Centre Kobzar in Kharkiv, Ukraine's second largest city.
The purchase of XXI's 99.995% interest in Business-Centre Kobzar LLC, the entity controlling the asset, will be completed by a series of cash payments totalling $14mln (EUR 9.5mln). XXI Century said the price is in line with the latest independent appraisal carried out by Jones Lang LaSalle. The payments will be made over a six-month period with the final payment due before February 2009.
The Business Centre covers a total area of approximately 10,200 m2, with 8,300 m2 of gross lettable area.
