Moscow-based PIK Group has announced the acquisition of a 127-hectare site on Kalyzhskoe shosse, a developing area of the Moscow region about 4-5 km from the Moscow Ring Road. The company plans to develop a township of approximately 1 million m[sup]2[/sup] of net sellable area. The project will include social infrastructure and 55,000 m[sup]2[/sup] of middle-class houses. Completion is estimated for 2017.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
