Within the framework of a forward purchase, the AKRON Group has contractually agreed to a 100% purchase of the project Prospekt Peremogi 67 in the Ukranian capital Kiev, which was initiated by R-QUADRAT Immobilien GmbH. With today’s signing, AKRON has directly purchased a 40% share of the project and will develop this together with R-QUADRAT. Upon completion of the project Prospekt
Peremogi 67 in autumn 2010, the project will pass entirely into AKRON’s possession.

The project Prospekt Peremogi 67 involves the building of a class A office and business building in Kiev with a useable floor area of approx. 30,000 m² and approx. 360 parking spaces. Construction activity has already been started. The site is only 7.5 km away from Kiev’s city center and has excellent transport connections, thanks to its location on a major road and close to an underground railway station.

Stefan Ausch, Partner of the ARKON Group, emphasizes: “With Project Peremogi 67, R-QUADRAT has started an excellent office development. We are looking forward to bringing our local and international expertise in to this development. An array of further mutual projects with R-QUADRAT are to follow in
the future.”

R-QUADRAT’s Managing Director, Herrmann Zöchmeister, is also very enthusiastic: “We are pleased that we were able to sign a Forward Sale Agreement with the AKRON Group for our project Prospekt Peremogi 67. The Peremogi 67 project is proceeding extremely promisingly and, with this project, we will bring one of the first office buildings of western standard to the rental market in Kiev. As R-QUADRAT Immobilien GmbH, we will continue to pursue projects in Kiev that promise high returns on investment. The demand will continue to increase over the next few years.”

Source: Akron Group