CLOSED FOR NEW SUBSCRIPTIONS
Russia I is a direct real estate fund investing in commercial real estate in Russia with a primary focus on the St. Petersburg region. Russia I is a medium-term real estate investment opportunity. The fund had an initial equity base of approx. EUR 147 million with a target investment capacity of EUR 300-400 million.
Russia I is one of a few international real estate funds focusing on the Russian real estate market. Russia I had its final closing in March 2007.
The objective of Russia I is to benefit from the significant development potential in the Russia real estate market by acquiring properties in Russia within the logistics, industrial, office and retail space. All investments have been made in St. Petersburg.
The fund is focused on an opportunistic strategy of acquisition, seeking higher returns through allocation to development projects with an aim to benefit from the significant shortage of high-quality commercial premises in the Russia real estate market. The fund’s portfolio is mainly composed of large properties in promising locations.
Russia I is structured as a Finnish limited partnership company (Ky).
- Focused on the significant development potential in commercial Russian real state
- Opportunistic strategy aimed at high returns upon exit
- Strong demand for modern premises due to substantial shortage of high-quality real estate
- Investments primarily in the St. Petersburg region
|KEY FUND FEATURES|
|Fund name||EPI Russia I Ky|
|Status||Closed for new subscriptions|
|Investment profile||Invests in commcercial real estate in Russia, mainly office and logistics properties in the St. Petersburg region|
|Fund type||Closed-ended, unlisted|
|Legal structure||Finnish limited partnership|
|Fund manager||Northern Horizon Capital Oy|
|Fund administrator||Northern Horizon Capital Oy|
|Equity||EUR 147.25 million (original)|
|Sector allocation||Office, logistics and industrial|
|Number of properties||3|
|Total portfolio size||133.248 sq. m.|
|Average property size||44.416 sq. m.|
Property Sector Country City AquiredProperty Primium Office Building Sector Office Country City St. Petersburg Aquired 01/04/2007 Property Gorigo Logistics Center Sector Logistics Country City St. Petersburg Aquired 01/04/2007 Property Kellermann Center Sector Office Country City St. Petersburg Aquired 01/02/2008
- Jussi Palmu
Board of Directors
- Michael Schönach
CEO of Northern Horizon Capital A/S
- Petri Olkinuora
Deputy Chairman of the Board, Northern Horizon Capital A/S
- Daiva Liubomirskienė
Group General Counsel, Northern Horizon Capital