The development company Level Group of Vadim Moshkovich gained control over the Mashinoapparat plant in Khamovniki, two people close to different sides of the deal told Vedomosti. According to them, the seller was the family of the former general director of the enterprise Valery Korunov, who owned about 57% of the shares. The transaction amount is about 850 million rubles, said one interlocutor of Vedomosti, the second claims that it amounted to about 1 billion rubles. The managing partner of Metrium, Maria Litinetskaya, considers these prices adequate to the market.
According to the Unified State Register of Legal Entities, on July 3, Georgy Kryukov became the new head of the plant. A person with the same name and surname is the development director of Level Group, its website said. Kryukov also heads the New Project Company, its ultimate beneficiary is Level Group CEO Kirill Ignakhin (SPARK data). The representative of Level Group declined to comment, Vedomosti’s request for Mashinoapparat remained unanswered, and failed to contact Korunov.
Level Group was created by a former member of the Federation Council from the Belgorod Region and the main owner of the Rusagro agricultural holding Moshkovich almost immediately after the sale of his development business (A101 development) to Safmar for $ 800 million in 2015. Now there are five in the Level Group portfolio projects with a total area of about 350,000 square meters. The largest of them are Level Amurskaya and Level Streshnevo (about 250,000 and 70,000 sq. m, respectively). The developer will also be a partner of MR Group in the construction of a residential area of 250,000 square meters. m on Dubininskaya street.
Vesper conducted negotiations on the acquisition of the plant, told people close to the potential deal in the spring. The company itself did not comment on this. For Vesper, the project in the enterprise would be the third in the prestigious Khamovniki. The other two are Bunin on Plyushchikha and Brodsky in the 1st lane of Workers. Vesper specializes in the construction of luxury housing in the center of Moscow. Her portfolio includes projects such as Fairmont & Vesper near the Mayakovskaya metro station, St. Nickolas on Nikolskaya street and others. The main owners of the company are Boris Azarenko and Denis Kitaev
Mashinoapparat was founded in 1942. It specializes in the production of electric motors and synchronous generators. It is assumed that the owner will take the production to a different place, say people close to the parties to the transaction. The plant owns the rights to a plot of 0.8 ha and buildings with a total area of about 20,000 sq. m in the Big Savvinsky lane. What Level Group plans to do with this territory is not exactly known. Earlier, one of the applicants for the plant said that the land area allows the project to be implemented on 25,000–28,000 square meters. m. The area of the object is likely to be limited by the current parameters of buildings, says one of the partners of Level Group. He explains that new construction, unlike reconstruction, involves obtaining additional approvals from the Moscow government, and the developer wants to avoid this. He recalls that it was precisely the difficulties with the approval of the A101 Development project that caused the sale of the company, so the Level Group strategy is to buy projects with ready-made documentation.
Alexei Bogdanov, managing partner of S.A. Ricci, estimates investments in the reconstruction of the plant building at 1.2 billion rubles. Litinetskaya’s estimate is much higher - 3.5–5 billion rubles. According to Bogdanov, it is more expedient to rebuild the enterprise into a premium multifunctional complex, which will include apartments, offices and street retail. For Level Group, a project in Khamovniki will be the first experience in the high-end segment, adds Litinetskaya. Apartments in the new project may cost 650,000-700,000 rubles. for 1 square. m, estimates the director of the department of financial markets and investments Knight Frank Igor Roganovich.
This company also claimed to purchase Mashinoapparat, as confirmed by its representative. Osnova was created by former shareholders and top managers of the Morton developer Aleksander Ruchyov, Oleg Kolchenko and Yegor Khramov. She specializes in housing construction in Russia, Germany and the Czech Republic, commercial property management and investment in startups. It has an IT park, Moscow Terme health centers and a share in the Zamaniya family of parks. There are already elite projects in the Fundamentals portfolio, in particular, Red7 at Academician Sakharov Ave.
To start rebuilding the Mashinoapparat building, Moshkovich’s company has yet to negotiate with minority shareholders of the enterprise with whom the Korunov family had a conflict, two people close to different sides of the deal say. From lawsuits it follows that about 30% of the plant’s shares at least until April 2018 belonged to Andrei Volkov, who for several years tried to challenge the decisions of annual meetings of shareholders of the enterprise. Contact with him failed.