Morgan Stanley Real Estate acquires Metropolis Mall in Russia
MOSCOW: A real estate fund managed by Morgan Stanley Real Estate Investing (MSREI) today announced the acquisition of the Metropolis Shopping and Entertainment Mall, a 205,000 sqm shopping center in Moscow, from Capital Partners. The acquisition of the Metropolis shopping centre is the largest-ever transaction in the Russian commercial real estate market. Terms of the transaction were not disclosed. Developed by Capital Partners, Metropolis opened in 2009 and provides 82,000 sqm of fully enclosed retail accommodation and 2,900 parking spaces. It is widely recognized as Russia’s premier retail development with a favorable location in the north-west of the city, along the Leningradskiy highway.