OREANDA-NEWS. On 27 March 2008 was announced, OJSC RTM acquired full ownership of LLC ReMa Immobilien consolidating a 100 per cent stake in the company and gaining direct control of 18 retail real estate properties in Moscow. Prior to this consolidation OJSC RTM owned 75 per cent of LLC ReMa Immobilien while running the company on a par with Eurobilla through a joint venture.

LLC ReMa Immobilien owns 18 retail properties in Moscow with a total square area of 53,300 sq m. 77 per cent of the space is leased to Billa chain of supermarkets under 25-year leases. The rent is calculated as a percentage of the tenant’s stores’ turnover.

“Taking full control of LLC ReMa Immobilien had been our plan all along“, noted Eduard Vyrypaev, General Director of OJSC RTM. “Exceptional terms of the lease to the key tenant coupled with the increasing growth of sales at around 20 to 25 per cent per annum add to this asset’s strong appeal. By becoming the sole owner of the properties in question, we are effectively increasing our cash receipts and minimizing the risks. On top of that, this purchase will have a positive effect on our real estate portfolio’s value".