Sberbank CIB1, the corporate and investment banking business of Sberbank, has opened a seven-year RUB 8.37 bln credit line to finance the construction of a new multifunctional complex at Moscow’s Kursky Station Square.
The Chkalov project involves the construction of two 21-storey towers with a total area of 60,400 square metres. A shopping centre will be built in the first five stories, which will join the towers together, and the 6th to 21st stories will contain apartments. Construction is scheduled for completion in 2021. The project concept has been created by Sergei Tchoban’s SPEECH architectural bureau.
Natalya Shemanovskaya, Managing Director and Head of the Real Estate Division of Sberbank CIB’s Largest Clients Coverage Department, commented: “Thanks to Sberbank CIB’s comprehensive expert approach we were able to structure this transaction to take into account all the benefits offered by the multifunctional complex.”
“The fact that our project is being financed by Russia’s largest bank shows that Vesper has chosen the right concept and inspires trust. Our portfolio currently includes 15 projects. Our successful track record of delivering projects over the past five years has enabled us to confidently launch this new and ambitious project,” commented Boris Azarenko, CEO and Founder of Vesper.
Vesper specialises in the creation of premium segment club real estate. Its portfolio includes 15 properties in Moscow and Europe.
Every Vesper club building features modern architecture, individual designs, cutting-edge technology, high-quality construction materials and the best residential real estate practices. The company’s key properties include Bulgkov in the Patriarch’s Ponds area, St. Nickolas on Nikolskaya Street, Chekhov next to the Moscow Hermitage Garden, Nabokov in the Ostozhenka neighbourhood, Cloud Nine – a project that involved the renovation of four 19th-20th century buildings on Bolshaya Polyanka Street, Sovremennik by Chistye Prudy, and the Bunin club house on Plyushchika Street. Vesper’s shareholders are its founders – Denis Kitaev and Boris Azarenko.
Chkalov is a joint project of Vesper and IKON Development.
Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 145 million customers in 20 countries. Sberbank has the largest distribution network in Russia with almost 15,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.
Sberbank CIB is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.