What will now happen on the site of the former tobacco factory will be decided by the new owner of the building / A. Makhonin / Vedomosti

The fact that the Stone Hedge investment fund has acquired the BAT-Yava building on 3rd Yamskogo Polya Street was reported by a source close to one of the parties to the transaction, one of the partners of Stone Hedge and a developer with a project in this area. According to them, the deal is almost closed. A representative of Stone Hedge was unable to promptly respond to questions from Vedomosti, and a representative of Cushman & Wakefield (the broker for the deal) declined to comment. BAT Russia Corporate Relations Director Alexander Lyuty said that the process of selling BAT-Yava is at the final, and therefore very delicate stage. He declined to comment in more detail.

The BAT-Yava building is one of the oldest factories in Moscow (see inset). Its total area is about 27,000 sq. m, and the land underneath it is 1.7 hectares. Production at the factory was closed in December 2012, British American Tobacco moved its production facilities to Saratov and St. Petersburg, and put the vacated premises up for sale.

The market value of the property is $35-40 million, estimates Stanislav Bibik, head of the capital markets department at Colliers International . Managing partner of Blackwood Konstantin Kovalev believes that the maximum price of the building is $50 million. "From an economic point of view, it is more profitable to redevelop the territory there, rather than carry out new construction ", - says Bibik. He estimates the costs for this at $40-80 million. Considering that it will be difficult to agree on the placement of an office in this building, it makes sense to implement a residential project of any format there - apartments, lofts, a hotel, adds Kovalev.

Little is known about the Stone Hedge investment fund. It was created on the basis of the NTB Development company for investments in class B offices and apartments. One of the founders of the fund is considered to be businessman Maxim Geyzer. Among Stone Hedge's projects is the Tsvetnoy 26 business center (3,000 sq. m. ), the Central Street mansion complex (13,000 sq. m) in the Baumanskaya metro area, the NEO GEO office center (130,000 sq. m) on Butlerova Street. At the end of last year, Stone Hedge bought the buildings (30,000 sq. m) from the investment company Magma. . m) Moscow Plant of Calculating and Analytical Machines named after Kalmykov on Nizhnyaya Krasnoselskaya Street. It is planned to locate the TriBeCa apartment complex there.

Stone Hedge was not the only contender for BAT-Yava. Earlier, VEB structures were interested in the building. The state bank already owns the territory of the neighboring Slava watch factory, where it is planned to build a multifunctional complex with an area of 479,715 sq. m.

Stone Hedge will give you a light