According to Forbes Ukraine, five senior executives from the commercial real estate and investment sectors confirmed that Irish banking corporation IBRC has sold its stakes in the Leonardo Business Center and the Ukraina Department Store Mall to City Capital Group, owned by Israeli businessman Ofer Kerzner.
"I love Ukraine, I believe in the country and its potential. We've been investing in Ukraine for many years and want to continue doing business here," said Kerzner, founder and owner of City Capital Group.
The Leonardo Business Center consists of two phases totaling 60,000 sq.m. Kerzner is acquiring Phase I, located in a former hotel building and opened in 2005, with a total area of 23,155 sq.m.
The Ukraina Department Store Mall spans 45,330 sq.m and features anchor tenants such as Velmart, Brocard, Intertop, Pandora, Jysk, Reserved, and Sinsay.
Forbes Ukraine estimates the transaction value at between $70 million and $100 million.
Ofer Kerzner, who began his business activities in Ukraine in 1998, founded City Capital Group by 2007. Today, the group owns six commercial properties in Kyiv, including the Platforma Korolenkivska and Platforma Office Club business centers, as well as the Darynok market mall and Art-Zavod Platforma.
