Dragon Capital bought Horizon Park Business Center from Ukrsotsbank

The investment company Dragon Capital bought Ukrsotsbank capital business park Horizon Park Business Center. The cost of the transaction is not disclosed.

UCPIH Ltd, which is a company Dragon Capital , has completed the acquisition from JSC "Ukrsotsbank" Business Park, Horizon Park Business Center (Kyiv) area of 69 thousand sq. M. m. "The value of the transaction is not disclosed," - said in a statement Dragon Capital. However, Facebook says that the acquisition of this complex was the biggest deal on the office real estate market in Ukraine over the past 10 years.

The company notes that the complex consists of two class “A” office towers of 18 and 19 floors in height and a 3-storey building connecting them, as well as a 5-storey class B office building. The largest business park in Kiev also includes land, underground and multi-level parking for more than 1,100 cars, as well as a wide range of social infrastructure facilities.

"Horizon Park Business Center will be the seventh and largest object in our office portfolio, which we have formed over the past year, doubling its size to 160 thousand square meters. We believe that the growth in demand for office space amid recovery of business activity in the country and a gradual decrease in vacancy make this sector of real estate investment attractive in the future of 3-5 years, "- quoted in the message Tomash Fiala, general director of Dragon Capital. According to him, since 2016, Dragon Capital, together with its European and American partners, has already invested $ 400 million in Ukrainian real estate.

"Such agreements help banks to reduce the burden of non-core assets on the balance sheet and attract additional resources to develop key business areas and increase lending to the population and the real economy," Ivan Svitek, chairman of Ukrsotsbank, is quoted as saying.

In early October, the Antimonopoly Committee of Ukraine (AMCU) authorized Dragon Capital and  The Goldman Sachs Group, Inc. indirect purchase of a holistic property complex Horizon Park Business Center. 

Dragon Capital is one of the largest groups of companies in Ukraine, which operates in the field of direct investment and financial services, providing a full range of investment banking and brokerage services for corporate and private clients. The company was founded in 2000 in Kiev.

UCPIH Ltd (Ukrainian Commercial Property Investment Holding) is an investment holding company within the Dragon Capital group and specializes in commercial real estate investments. The majority shareholder of the holding is Dragon Capital Investments Limited.

Ukrsotsbank has been operating in the local market since 1990 and offers a full range of financial services to both individuals and legal entities. Ukrsotsbank together with Alfa-Bank Ukraine are members of the international banking group ABH Holdings SA with headquarters in Luxembourg.

Photo: SkyscraperCity

Source: delo.ua