VTB Capital buys its old office block

By Andrei Skvarsky

VTB Capital has acquired Capital Plaza, an office block where the investment bank had its headquarters before moving less than a year ago to Moscow City, the emerging Presnensky business district three kilometres west of the Kremlin.

Capital Plaza, a 14-storey business centre with floor space of 50,000 square metres (540,000 square feet), is today rented by major Russian and international companies.

The deal has been organised by VTB's relatively new buyout arm. "Real estate is one of the priority sectors in our investment strategy,” said Tim Demchenko, global head of private equity and special situations at VTB Capital.

Capital Group, Capital Plaza's seller, has buildings with a total floor space of 1.5 million square metres (16.15 million square feet) at various stages of completion in its project portfolio, according to the group's first vice president, Valentina Stanovova.

By Andrei Skvarsky VTB Capital has acquired Capital Plaza, an office block where the investment bank had its headquarters before moving less than a year ago to Moscow City, the emerging Presnensky business district three kilometres west of the Kremlin. Capital Plaza, a 14-storey business centre with floor space of 50,000 square ...