[ Moscow, RUSSIA ]
The shopping mall, opened in 2009, is one of the largest shopping centers in Russia. The center includes a huge supermarket, bowling alley, cinema, pool hall, and a myriad of high street brands. Some consider Metropolis as Moscow’s premier shopping center. At the time of its opening, Metropolis was the largest shopping and entertainment center in Moscow. It is widely recognized as Russia’s premier retail development with a favorable location in the north-west of the city.
Developed by Capital Partners, the mall opened in 2009.
In July 2013, Morgan Stanley sold a 50 percent stake in Moscow’s Metropolis shopping mall to a joint venture of U.S. real estate firm Hines and a California pensions managing agency in a deal which might be valued at over $600 million, a media report said. Hines CalPERS Russia Long Term Hold Fund is a joint venture between Hines and the California Public Employees’ Retirement System.
In February 2013, a real estate fund managed by Morgan Stanley Real Estate Investing announced the acquisition of the Metropolis Shopping and Entertainment Mall, a 205,000 square meter shopping center in Moscow, from Capital Partners. At the time the acquisition of the Metropolis shopping center was the largest-ever transaction in the Russian commercial real estate market. Terms of the transaction were not disclosed. According to a prior Reuters report, Morgan Stanley’s Real Estate fund had been seeking to purchase the Metropolis Shopping Mall in Moscow, at a price estimated by Reuters that could reach $1.2 billion. Metropolis is located directly on Leningradskoe Shosse close to Voikovskaya station and easily accessible by both metro and car.