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AIRPORTCITY St. Petersburg: Zeppelin Office Tower Fully Let

May 27, 2014, 9:42 (PX Newswire)

Vienna/St. Petersburg, 27 May 2014 – ZAO AVIELEN A.G. – a joint venture between the Austrian real estate developer Warimpex (55 per cent), CA Immo Group (35 per cent) and UBM (10 per cent) – has signed an agreement with a renowned international corporation for the long-term let of the third office tower at AIRPORTCITY St. Petersburg. The Zeppelin office building, which boasts around 16,000 square metres of lettable space on 13 floors and for which the shell has already been completed, is set to be completed on time to the standard of an A-class office building in accordance with international standards.

“Particularly in light of the current heightened political situation with the Ukraine conflict, we view the conclusion of this agreement as an important sign of confidence in our project. The sales negotiations for the two other office towers, which are now fully let, are also continuing to progress according to plan,” said Georg Folian, Deputy Chairman of the Warimpex Management Board, a representative of the Austrian consortium.

AIRPORTCITY St. Petersburg
AIRPORTCITY St. Petersburg is being developed by the project company ZAO AVIELEN A.G. and is located in close proximity to Pulkovo 2 international airport St. Petersburg. It is the first premium-class business centre at this location and is a key infrastructure project in the area around the airport, one of the fastest-growing commercial zones in St. Petersburg. In August 2013, the Austrian joint venture led by Warimpex concluded an agreement with
a local bank for the refinancing of an EUR 60 million loan for AIRPORTCITY St. Petersburg.

In addition to a four-star Crowne Plaza hotel, the complex includes three modern office buildings with a total lettable space of around 32,800 square metres. The two towers from the first construction phase, Jupiter 1 and Jupiter 2, with approximately 16,800 square metres of space, have already been opened and are fully let out. In February 2014, a term sheet was negotiated and signed with a Russian pension fund for the sale of the two office towers. The transaction is expected to be closed by mid-2014. Additional office buildings are also being planned on this property. Shortly after the opening of the Crowne Plaza hotel and the Jupiter business centre, ZAO Avielen A.G. won two Commercial Real Estate Awards for the
best multifunctional project and the best developer in the region.

The project company ZAO AVIELEN A.G. is the developer and operator of a four-star Crowne Plaza hotel with 294 rooms and spacious conference facilities as well as three office buildings (32,800 square metres) in the Pulkovo 2 business district at AIRPORTCITY St. Petersburg. www.avielen.net

Warimpex Finanz- und Beteiligungs AG at a glance
Warimpex Finanz- und Beteiligungs AG is a real estate investment and development company. The company is headquartered in Vienna and listed on the stock exchanges in Vienna and Warsaw (WXF). As one of the largest hotel investors in Central and Eastern Europe, Warimpex currently owns, partially owns or operates nineteen business and luxury hotels with a total of over 4,700 rooms as well as five commercial and office buildings with a total useable area of roughly 43,000 square metres. Over the past twenty-five years, Warimpex has developed properties worth over EUR 1 billion. Warimpex believes in quality and sustainability as the basis for strong future growth.
The firm’s top properties include the andel’s hotels in Berlin and Łódź, as well as angelo hotels in Prague, Plzen, Katowice, Bucharest and Ekaterinburg, the Kempinski hotel in Vienna and the InterContinental hotel in Warsaw, which was sold and leased back in 2012.

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