The Company has recently closed a lease-out deal for the 1500 m2 on the 8th floor in the Sinop Business Centre in St. Petersburg. The deal was struck on a same-day basis. A lease agreement between the Company and a new tenant is designed for 5 years with a minimum lease term of 1,5 years.
“The deal in question clearly illustrates the way we approach the question of real estate trust management,” said Feliks Blinov, CEO of the RWM Investment Group. “The idea was to organize the in-and-out movements of our tenants in the way our office space was empty not even for a day. And so we did. To reach our goal we were ready even to help one of our previous tenants to move quicker to a new office space (also within the Sinop Business Centre where he had already intended to move and had been having the space repaired and refurbished). Thus the deal was done to the advantage of all the participants.
RWM Capital Asset Management became one of the first companies in Russia to provide services connected with real estate trust management. Though very popular in other countries, real estate trust management is a completely new thing for us. However experts say that is the future of the industry.
I find this deal spectacular as having been concluded to a day. It is not typical of an Asset Management company to make things work it intends under the circumstances; usually the in-and-out movements of tenants are put back by a number of obstacles. As a result office space is out of market for a considerable period of time. There are several necessary stages of property lease-out to be observed. First, a company should try and find a sufficient number of its would-be tenants with attractive lease score. Second, it comes the time for a group of professional real estate lawyers who (in cooperation with third-party consultants) are to produce all the paperwork for the project. Lastly, a financial department takes its turn to conduct accounts receivable as well as monitor unpaid bills.”
