PROPERTY group Raven Russia is expected to unveil more than $70m-worth of real estate acquisitions near Moscow today.
The FTSE 250-listed firm is believed to have snapped up a large warehouse to the north of the Russian capital, which is let to two tenants, as well as 38 hectares of development land to the west.
Raven plans to build further warehouses on the site, and is thought to be in talks with a bank to fund the project.
While it has set its sights on building 200,000 square feet of industrial properties on the site, Raven’s plan remains subject to regulatory consent and the ability to attract tenants.
The group, which is run by Raven Group founder Anton Bilton and former UBS financier Glyn Hirsch and focuses on commercial property in Russia, is due to update the market on its plans this morning. Singer Capital Markets is advising on the transactions.
The firm floated in 2005 and joined the main London market in August 2010.
Today’s expected deal follows a string of acquisitions including the €215m acquisition of Pushkino logistics park last month.