АFI Development, which owns Afimall city, can pass shopping center VTB for debts. About this “Vedomosti” reported two consultants who worked with both sides of the negotiations.
As reminds the edition, the developer carries on negotiations with VTB on the settlement of debt in the amount of $611,1 million, the value of TC (according to the company) is $666 million, According to the newspaper, the Bank directed Development АFI notice that he looks forward to the completion of the negotiations before may 31. It is noted that the company may transfer the credit organization has some “significant projects” but also considering refinancing with other banks.
As noted by one of the interlocutors of “Vedomosti”, “Afimall city” is in pledge at VTB loan of $415,8 million, a Source close to the parties of negotiations, has confirmed that his transfer is discussed, but, according to him, there is no solution. While both sources indicate that, most likely, VTB will take over the debt office complex “aquamarine III” (61700 sq. m), which is also mortgaged to loan on $193 million
As the Director of the Department of financial markets and investments at Knight Frank Alan Baloev, the transfer of these assets — “Afimall city and aquamarine III” — would be logical, as they both laid in the Bank.
About the problems of AFI Development became aware in late March. Then the company announced that VTB has informed her that its subsidiary Bellgate Construction Limited and Krown Investments LLC, are the borrowers in the project Afimall city and Ozerkovskaya III”, unable to timely repay debt obligations.
AFI Development was founded in 2001, its principal owner — Africa Israel Investments Israeli diamanter Lev Leviev. It occupies 23-e a place in the “Kings of Russian real estate” by Forbes.