MOSCOW, March 1 (Reuters) - Boris Mints, owner of Russian real estate developer O1 Properties, has agreed to buy one of the most prestigious business centres in Moscow from real estate company Hines for around $360 million, two sources said.
O1 is planning an IPO in the coming months, sources previously told Reuters, targeting around $500 million to invest in Moscow’s booming commercial property market.
The property being bought, Ducat Place III, is home to a number of international banks and law firms. The deal was signed about a week ago although is not yet closed, said the sources, one of which was close to the negotiations and the other a market source.
O1 Properties, set up by former directors at Moscow brokerage Otkritie, owns multi-purpose sites used for offices, restaurants and other leisure activities around the Russian capital. (Reporting By Olga Sichkar; writing by Megan Davies; Editing by Will Waterman)