13:12 Jensen Group to buy more property in Russia | |
| The Jensen Group, an American property investment and
development company based in St. Petersburg, is planning to create a new
$300m (€213m) property acquisition fund in Russia in early 2012. This
will be the group’s third fund in Russia. Additionally, the company plans to buy one more property worth $10-40m (€7-28.5m) in St. Petersburg by the end of year. As Russian Construction Review reported on a previous occasion, the Jensen Group acquired the Passazh shopping centre in Nevsky Avenue in St. Petersburg this year. The exact cost of the transaction has not been disclosed, but it is known that the bank initially wanted €50-54m for the asset. In addition, Jensen already owns a business centre on the Admirala Makarova embankment, along with several other assets in the city. The group recently increased the capital of its Jensen Russian Real Estate Fund II from $89m (€63m) to $155m (€110m). The additional resources came from international investors. According to the group, Jensen Russian Real Estate Fund II will continue to pursue a strategy based on investing in high-quality assets. The Jensen Group was founded in 1991. It operates on the St. Petersburg and Leningrad Province property and asset management market. | |
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