FF&P to sell Moscow offices as new Russian winter sets in

摘要

FF&P russia real estate advisers is set to sell two Moscow offices as sentiment towards the Russian property market dips.The Russian property investor, launched in 2003 by UK banking mogul Roddie Fleming and his family, signed a letter of intent last week to sell the offices, which comprise 193,750 sq ft in central Moscow, to German open-ended fund manager DEGI for more than $180m(￡101m).FF&P has agreed the sale of Gogolevsky 11, a 107,640 sq ft office let to five companies, including Delta Airlines and General Motors, and an 86,110 sq ft office on Lesnaya Street, let to property company Coalco.The price reflects a yield of 8%-8.5%. The sale is expected to complete by December.