The real estate developer Capital Group has reached a long-term lease agreement with Renaissance Credit for office premises at the Capital City multi-use complex. Renaissance Credit, which is a Russian leader in the consumer credit sector, will occupy more than 3700 sq m at the complex. Knight Frank acted as exclusive consultant to the transaction.
Konstantin Losyukov, Director of the Corporate Client Department at Knight Frank, noted that excellent location and status of Capital City as one of the most up-to-date business centres in Moscow were of decisive importance for the transaction: “In selecting a building for the headquarters of Renaissance Credit we were guided by the Bank’s profile and current expectations for top-class office premises. Capital City was the optimal solution both as regards location (other companies in Renaissance Group, of which Renaissance Credit is a part, already have offices in a neighbouring building in the Moscow City business district), and also in view of the building’s status, infrastructure, and commercial terms offered by the lessor.”
The new headquarters of Renaissance Credit will be on the 14th floor of the class-A Capital City business centre. The tenant will have the use of an underground car park, and will be free to divide the office space as it wishes. Developed infrastructure inside the Capital City building includes top-class restaurants, a fitness centre and a beauty salon, and many other facilities are available close by as part of Moscow City business district. Capital City is run by a professional property management company, and other tenants include leading Russian and international companies such as Goltsblat BLP, Sandoz, Capital Group, Garanti Bank Moscow, and Amgen.
“Choice of the Capital City complex as headquarters for top management of one of Russia’s leading banks confirms high quality of the office product, which the centre offers. We view the transaction as a strong recommendation of all aspects of our product, including pricing and professional standards of office management, said Petr Isaev, Commercial Property Director of Capital Group.
Capital City Business Centre consists of blocks at the base of two high-rise buildings, the Moscow and St. Petersburg Towers, which comprise residential apartments on upper floors. Capital City was built using the latest construction technologies and an original architectural solution by the architects NBBJ. Location in the first belt of development at Moscow City, on the Moscow River embankment, ensures panoramic views. The project uses a “city-within-a-city” concept, providing tenants and visitors with top-class infrastructure. Capital City has won a number of awards: Best Multi-use Complex (CRE Awards`09), Best Russian Office (Vedomosti newspaper), Interia Awards`10, and others.
Renaissance Credit is among Russian leaders in the consumer lending sector, providing consumer credits, credit cards and other services to individuals.
The bank was set up in 2003 and is one of the top-100 Russian banks, serving more than 4 million people nationwide. Operations extend to 59 of Russia’s 83 administrative regions.
Renaissance Credit is a brand of Renaissance Capital Limited, which operates under Licence № 3354 of the Bank of Russia for conduct of banking operations.
Renaissance Credit comprises retail business of Renaissance Group. The Group also includes investment and financial companies, which operate on developing markets in many parts of the world.
Capital Group is among Russia’s leading development companies, and has been active on the Moscow market since 1993. The company portfolio now includes 56 completed projects with total space of more than 5 million square meters. Projects currently under construction amount to 2 million square meters.
Projects of Capital Group are in the fastest-growing segments of the Moscow development market: deluxe, premium and business residential; and commercial segments (class-A business centres, shopping malls and hotels).