Dragon Capital Acquires Warehouse Complex Arctica Near Kyiv
Built in 2011, Arсtiсa is a class A cold storage complex with 21,500 square meters of total space, located in Kyiv’s suburb of Sofiivska Borshchahivka. The sale was carried out by Oschadbank via SETAM, the state-owned electronic auction system.
“Arсtiсa is the ninth property and second cold storage facility in our warehouse portfolio, which over the past 2.5 years has expanded to 300,000 sq. m., including 40,000 sq. m. of cold storage space. We believe that ongoing growth in demand for warehouses, fueled by the expansion of offline and online retailers, is making this particular real estate segment attractive for investment. Following this acquisition, logistics space will constitute 48% of our total commercial property portfolio,” said Volodymyr Tymochko, Managing Director of Private Equity, Dragon Capital.
“The sale of Arсtiсa became Oschadbank’s largest non-core asset disposal by value after the bank acquired it via a loan settlement procedure, having completed the full process of collateral recovery from a troubled debtor. This disposal is the logical continuation of the state bank’s persistent and successful work with distressed and non-core assets over the past five years. We have demonstrated our observance of the principles of transparency and openness with respect to performing the bank’s property sales exclusively at market prices,” said Andriy Stetsevych, Deputy Chairman of the Board at Oschadbank.
About Dragon Capital
Dragon Capital is one of the largest groups of companies in Ukraine that works in the field of direct investments and financial services, providing a full range of investment banking and brokerage services for corporate and private clients. The company was founded in 2000 in Kyiv and has a successful 19-year track record of private equity investments in Ukraine.
About JSC Oschadbank
Oschadbank is the leading Ukrainian state bank with the most extensive branch network that works in all financial sectors. Its customers include small and medium-sized businesses as well as the largest companies in Ukraine. Oschadbank has been the winner of the integrated survey “50 Leading Banks in Ukraine” for three consecutive years, according to the annual independent study by the Financial Club news agency.