MOSCOW-Vienna-based Immofinanz has acquired the remaining 25% stake in the $121 million GoodZone shopping plaza now under construction here in south Moscow. The company had partnered with Fenix Development in building the 538,000-square-foot center in 2007, but the economy suspended construction.
With this purchase (amount undisclosed), Immofinanz will complete the project, said Eduard Zehetner, CEO. “This transaction will enable us to quickly complete the second-largest shopping center in our most important retail market,” he said in a statement.
The center is going to provide locations for almost 200 retail stores, restaurants and services, as well as a movie theater. The project includes a 200,000-square-foot potential second phase.
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