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MOSCOW-In a quiet marketing to select buyers, London & Regional Properties Ltd. has turned over the 147,767-sf [13,728 sm2] Ducat Place II to Sponda plc. The $185-million sale in Downtown Moscow has gone full circle in three months.

Developed in 1997 by Moscow-based BrookeMil Ltd., the fully leased, class A office building at 7 Gasheka St. is a favorite nesting ground for international law firms. “The seller is staying on as a tenant so they were very selective in how they chose the buyer,” Olga Sirodoeva, partner in Orrick, Herrington & Sutcliffe LLP, tells GlobeSt.com. She led the seller’s transactions team, which included corporate associates Maria Kosova and Mikhail Usubyan.

It is customary in Russia to structure sales as stock transactions, as was the case with pass to Finland-based Sponda, according to a press release from Orrick about the transaction. Sirodoeva has worked on transactions for Ducat Place II since its development, including its acquisition by L&R in December 2006.

The Liebman Melting Partnership was the architect for Ducat Place II, one of three office buildings, each with a different owner. Houston-based Hines International Inc. leases and manages the complex and will continue at the helm of Ducat Place II, situated near the US embassy at the intersection of the Garden Ring and Tverskaya Street. Ducat Place II boasts two levels of underground parking and a four-level, glass-enclosed atrium with sky bridges connecting its four-story structure to a 10-story tower.

It couldn’t be determined by press time as to L&R’s motivation for the sale. The seller and the buyer, though, had recently completed a shopping center sale so it’s possible the Ducat Place II offer arose from the earlier negotiations. L&R retired a $61-million loan [€44 million] with Hypo Real Estate Bank that it secured for the 2006 acquisition.

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