Russian Fitness Group, managing the "Fizkult" and World Class chains of fitness clubs, and RWM Capital Asset Management announce commencement of joint long-term program for searching, purchasing and leasing of real property. In December 2012 RWM Capital Asset Management proceeded to prepare a transaction on purchase of the building of sports and recreation center located on Sevastopolsky prospekt in Moscow. The building of the center will be leased for a long term to the largest Russian fitness operator – Russian Fitness Group under the relevant agreement. This item of real property will be included in the assets of one of closed mutual investment funds managed by RWM Capital Asset Management. The scope of fund's investments to the purchase of the facility will exceed 300 million roubles. The procedure of the state registration of sale and purchase agreement is currently underway.
"We have signed an agreement on purchase of the building designed for sports and recreation center, located on Sevastopolsky prospekt, which will be immediately rented out to a first-class tenant – Russian Fitness Group, which will open a new club within one of its chains, - said Sergey Orlov, Chief Executive Officer of RWM Capital Asset Management. – This project will commence the works in the segment of real estate market which is new for us – the facilities for major network retailers. For us and for investors of funds managed by us it is important that we start the work in this segment in partnership with such reliable and large network company as "Russian Fitness Group". This is the first, pilot project but we already made arrangements regarding the entire program for searching and long-term leasing of at least two facilities annually for developing the chain of sports clubs. We expect that the project we've represented today will become a prologue for a long-term and mutually advantageous cooperation of all stakeholders".
"High quality standards of services – are not just empty words for us, - said Alexei Drobot, General Manager of Russian Fitness Group. – It is overwhelmingly important for us that all things we do to advocate the healthy lifestyle and improved health of population are done at the highest level. Therefore we are extremely careful in choosing partners. A reliable, serious and reputable partner is a recipe of success for any undertaking.
Today we announce the start of cooperation with such partner - RWM Capital Asset Management. This signed agreement is of paramount importance for us as well. It is directly related to further plans for development of Russian Fitness Group. As already mentioned above, we've reached arrangements regarding purchase and our long-term lease of at least two facilities per year. This is an important support for implementing the strategy of active extension of our fitness clubs chain, and, consequently, for participating of increasingly larger number of people in healthy lifestyle.
Clearly, we specify high technical and engineering requirements to the condition of the buildings to be leased. The location of the facilities is a matter of great importance too. It is nice that our colleagues from RWM Capital Asset Management take into account the specificity of our business. We hope that our cooperation will be long and fruitful".
"I would like to add to all aforesaid that our interaction consists of three important components, - said Felix Blinov, Managing Director of RWM Capital Asset Management. – The first one – is the presence of a strong, successful partner, leader in its branch. The second one – advantageously located high-quality real property with great engineering and technical characteristics proved by all required inspections. This is new construction. Finally, the third component – this project lies within the strategic vector of our development. In our opinion, the market demand for sale & leaseback and similar projects is great in this new state of economy. We will manage to implement lots of such projects. The combination of these factors, together with our experience will contribute to the general success of our cooperation".
