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03/03/2026
Tuesday
THIS DAY IN HISTORY:
3 March 
1933 Hitler proclaimed the formation of the Third Reich.
1933 Hitler proclaimed the formation of the Third Reich
1878 The principality of Great Bulgaria was formed as part of the Ottoman Empire.
1878 The Principality of Great Bulgaria was formed as part of the Ottoman Empire
1613 16-year-old Mikhail Fedorovich was elected to reign and became the first tsar in the Romanov dynasty.
1613 16-year-old Mikhail Fedorovich was elected to rule and became the first Tsar of the Romanov dynasty
3 March
1933 Hitler proclaimed the formation of the Third Reich.
1933 Hitler proclaimed the formation of the Third Reich
1878 The principality of Great Bulgaria was formed as part of the Ottoman Empire.
1878 The Principality of Great Bulgaria was formed as part of the Ottoman Empire
1613 16-year-old Mikhail Fedorovich was elected to reign and became the first tsar in the Romanov dynasty.
1613 16-year-old Mikhail Fedorovich was elected to rule and became the first Tsar of the Romanov dynasty
METROPOLIS SHOPPING CENTER HAS COME UNDER THE CONTROL OF TPS REAL ESTATE
The sphere of investment in commercial real estate continues to demonstrate sustainability. Amid the general interest in the segment, an important corporate change was recorded in early February. M-Holding (JSC), which owns the Metropolis shopping mall through Kubik, has come under the management of TPS Real Estate. Information about this appeared in the Unified State Register of Legal Entities. For the market, this may mean the actual completion of the acquisition of this asset, the price of which, according to experts, is about 60 billion rubles.
The complex (205 thousand square meters) has been operating in the northern part of the capital for 17 years. It has changed hands several times before. It was acquired by Morgan Stanley 14 years ago, and later the asset was transferred to Hines from the USA. It was bought by the investment firm Balchug Capital a few years ago. Information about the ultimate beneficiaries of the current asset transfer is not disclosed.
The financial indicators of the facility's balance sheet holder show mixed dynamics. The year before last, Kubik's revenue, which holds the shopping center on its balance sheet, reached 7.5 billion rubles. Despite the growth rate (17%), the year turned out to be unprofitable for the organization. The net loss amounted to 1.7 billion.
TPS Real Estate has already carried out the operational management of Metropolis. Now, with the official change of the management company, market participants are inclined to believe that control will be completely transferred. Balchug Capital had previously denied such assumptions.
Experts note that this step logically indicates the final closing of the deal. The portfolio of the new owner includes commercial facilities with an area of almost 450 thousand square meters. meters. According to estimates provided by Forbes, the revenue side of lease agreements in 2023 amounted to $155 million.
Despite structural challenges such as the development of online commerce and the disappearance of some foreign operators from the domestic market, investment activity in commercial real estate remains. According to experts, investments in this market segment increased 2.5 times last year, reaching 175.6 billion. In Moscow, for example, traffic remained generally stable, which was facilitated by an increase in attendance at regional centers. This offset a slight decrease in large complexes.
Photo: Freepik
The complex (205 thousand square meters) has been operating in the northern part of the capital for 17 years. It has changed hands several times before. It was acquired by Morgan Stanley 14 years ago, and later the asset was transferred to Hines from the USA. It was bought by the investment firm Balchug Capital a few years ago. Information about the ultimate beneficiaries of the current asset transfer is not disclosed.
The financial indicators of the facility's balance sheet holder show mixed dynamics. The year before last, Kubik's revenue, which holds the shopping center on its balance sheet, reached 7.5 billion rubles. Despite the growth rate (17%), the year turned out to be unprofitable for the organization. The net loss amounted to 1.7 billion.
TPS Real Estate has already carried out the operational management of Metropolis. Now, with the official change of the management company, market participants are inclined to believe that control will be completely transferred. Balchug Capital had previously denied such assumptions.
Experts note that this step logically indicates the final closing of the deal. The portfolio of the new owner includes commercial facilities with an area of almost 450 thousand square meters. meters. According to estimates provided by Forbes, the revenue side of lease agreements in 2023 amounted to $155 million.
Despite structural challenges such as the development of online commerce and the disappearance of some foreign operators from the domestic market, investment activity in commercial real estate remains. According to experts, investments in this market segment increased 2.5 times last year, reaching 175.6 billion. In Moscow, for example, traffic remained generally stable, which was facilitated by an increase in attendance at regional centers. This offset a slight decrease in large complexes.
Photo: Freepik
06.02.2026
