U.S. fund clinches Russia’s largest ever real estate dealJanuary 17, 2012 - 12:05 AMT PanARMENIAN.Net - A U.S. investment fund has agreed to buy a shopping mall in downtown St. Petersburg for $1.1 billion, in Russia’s largest ever real estate deal. Morgan Stanley Real Estate Fund VII will purchase the Galereya (Gallery) center from Meridian Capital, run by a group of Kazakh investors, sources close to the transaction told Vedomosti business daily. The purchase of the mall, St. Petersburg’s largest, is expected to be completed later this month. If completed, the transaction will be the largest on Russia’s real estate market, business analyst Sayan Tsyrenov told Vedomosti. Galereya opened in November 2010 and features 290 stores, a 10-screen movie theater, and a 27-lane bowling alley. Morgan Stanley and Meridian Capital were not available for comment, RIA Novosti reported. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Turkey condemns Uruguay’s recognition of Armenian Genocide Turkey has condemned a newly passed law in Uruguay that recognizes the Armenian Genocide, TRT reports. For the first time, Armenia votes in favor of Georgia resolution in UN Armenia on Tuesday, June 4 voted for the first time in favor a resolution adopted by the United Nations General Assembly. Moscow warns Armenia against leaving Russian-led defense bloc Armenia could ruin its military ties with Russia if it continues drifting towards the West, according to a senior official in Moscow. Moscow says ready to support Yerevan-Baku reconciliation Moscow has confirmed its readiness to support the reconciliation of Yerevan and Baku. |