RWM Capital Asset Management and Russian Fitness Group, the management company of World Class and World Class Lite fitness club network, declare the new stage of realization of their joint program for sale and leaseback of real estate. The new stage includes preparation of transactions for acquisition of buildings of sport and fitness facilities in St. Petersburg. The first transaction will be closed prior to the end of summer of 2014.
“We have been cooperating with “Russian Fitness Group” since 2012, - says Sergey Orlov, chairman of the Board of Directors of RWM Capital Investment Group. – Last year we closed several transactions for purchase and long-term leasing to “Russian Fitness Group” of buildings of sport and fitness facilities in Moscow. Now we have entered the market in St. Petersburg. The first deal will be closed in the near future. The facility will become part of one of the funds under our management. The investment volume will amount to 199 million 812 thousand Rubles. The facility is an operating club and requires no additional financial expenses for furnishing which allows to immediately lease it. For us and for investors of the funds under our management it is very important that we cooperate with such reliable and large network company as “Russian Fitness Group”. The deal complies with the requirements of our stockholders as regards profitability and reliability”.
“This transaction is executed in accordance with "sale & leaseback” scheme, - says Felix Blinov, Managing Director of RWM Capital Asset Management. – We already have experience in closing SLB-deals. Our pilot SLB-project in Moscow was executed in cooperation with “Russian Fitness Group” and we are glad that our first transaction in St. Petersburg will also be done in cooperation with them. This is one of best and the most popular clubs in St. Petersburg. It is located at: pr-kt Stachek, 99, letter A.
We have been actively promoting “sale & leaseback”product and we are sure that it will be in demand in the market. By now the pool of owners of real estate with stable financial situation and “transparent” accounting has been formed for whom owning real estate does not constitute their primary business. We are sure that they will be interested in our product as it allows them to return capital invested in real estate objects. It is possible under present conditions and we can see that the market for such projects is vast. We are planning to continue our work in St. Petersburg and I believe that by the end of the year we will close at least one more SLB-deal”.
