OREANDA-NEWS. Sberbank CIB has organised the provision of a 5-year credit line for Development Group 19 (DG 19) worth USD 107 mln. These funds will be used to finance the construction of Ledentsovpark multifunctional retail and entertainment centre, which is located on Mozhaiskoye Highway near Odintsovo. On behalf of Sberbank CIB the deal was structured by the Client Management Department, Real Estate Finance Division, and Sberbank Merchant Banking (the merchant banking department of Sberbank CIB).

Ledentsovpark is surrounded by highly developed transportation, social and commercial infrastructure, as well as a number of high-quality residential real estate properties at various stages of completion. The project currently has a catchment area of 665,000 people, which may be increased by 120,000 due to the completion of new residential complexes. Ledentsovpark is a modern, high-quality neighbourhood-type shopping centre with a selection of respectable anchor tenants (O’Key supermarket, Decathlon sports hypermarket) and a balanced pool of tenants that will meet local residents’ daily demand for products and services.

Development Group 19 is the first international company carrying out real estate development in areas of Moscow Region that are closest to the Russian capital. The company has land plots at various stages of receiving permits and carries out a complete land development cycle using experts and carefully selected contractors.

The company has two retail projects in the Moscow Region: Zelenopark (Zelenograd) with a leasable area of 110,000 sq. m and Ledentsovpark (Odintsovo) with an area of more than 55,000 sq. m. The company plans to implement a number of major commercial real estate projects.