A team of lawyers from Salans’ St. Petersburg and Moscow offices has advised Renova-StroyGroup on the conclusion of a second development contract in St. Petersburg to build a new residential complex on Petrovsky Island.
Renova-StroyGroup, a member of the Renova group, recently announced its second St. Petersburg development project – a residential complex on Petrovsky Island. In order to implement the project, Renova-StroyGroup acquired a share in Petrovsky Aliance, which holds the development rights on Petrovsky Island. According to preliminary estimates, the project will be worth more than USD 80 million.
Real estate specialists from Salans’ St. Petersburg and Moscow practices provided legal support for the transaction, including drafting all the transaction documentation, carrying out complex due diligence of the property (land plots and buildings in the historical part of St. Petersburg) and the corporate status of the rights holder.
The project was led by head of the St. Petersburg office real estate group Karina Chichkanova and Moscow senior associate Sergei Trakhtenberg. Of counsels Irina Dementieva and Maria Kaidanovskaya, as well as associates Anna Kaptarenko and Julia Markina, also worked on the project.
“We are delighted that Renova-StroyGroup chose Salans as its legal partner,” said Karina Chichkanova. “This deal shows once again that our experience in real estate transactions means we can handle projects of any degree of difficulty.”
