Moscow Times
The domestic commercial property market received a massive cash injection with the sale of one of Moscow’s largest shopping centers, Metropolis, to Morgan Stanley’s real estate investment unit for a record $1.2 billion.
Morgan Stanley Real Estate Investing acquired the 205,000-square-meter shopping center in northwestern Moscow from developer Capital Partners.
“The acquisition is the largest-ever transaction in the Russian commercial real estate market,” the New York-based company said in a statement Friday.