RWM Capital Asset Management announced closing purchase of premises of another World Class network fitness club. The transaction was handled under joint long-term program of real estate units re-purchase implemented by Russian Fitness Group and RWM Capital Asset Management.
Fitness club located at the address: bld. 2, 14 Zhitnaya St., Moscow, was included into the assets of closed-end real estate unit investment fund RWM Metropolitan Real Estate No. 1 managed by RWM Capital Asset Management. Federal Service for State Registration, Cadaster and Cartography adopted corresponding decision on 21.03.2014.
“Fitness-club on Zhitnaya Street has become the next stage of our cooperation with the largest Russian fitness operator – Russian Fitness Group,” says Felix Blinov, Managing Director of RWM Capital Asset Management. “Club on Zhitnaya Street was one of the first network clubs. It is located in the center of Moscow, it has substantial client, material and technical base. Basically, it is a premium class facility. The transaction was carried out under sale & leaseback scheme, i.e. the building was granted on long-term lease to Russian Fitness Group. Now there are few facilities under elaboration. We expect to close at least six transactions before the end of the year. Russian Fitness Group will continue to manage the club.”
