US investor PNK Group has sold a built-to-suit warehousing facility in the PNK-Chekhov logistics park in the Oblast district of Moscow to Russian group ТВОЕ. Oleg Mamaev, Chief Executive Officer of PNK Group said the deal was completed for a price of EUR 25 mln.

The transaction involves a 24,000-m2 warehouse and office A-class complex, which has been developed over the past eight months and is currently fully operational. Financing was provided by local lender Sberbank, in its first funding facility to PNK Group.

'Everyone in the logistics market is speaking about the re-start of built-to-suit development but there are not that many deals,' said Egor Dorofeev, head of warehouse and industrial real estate at Cushman & Wakefield, which advised on the deal. 'This transaction has again confirmed the high level of professionalism of the PNK Group,' he added.