PIK plans to construct an urban area with 1.1 million m[sup]2[/sup] of net sellable space on an 124-hectare site the Russian residential developer has acquired in the Russian city of Perm. The development will be the first phase on a large site totalling 500 hectares which the local authorities in Perm have earmarked for real estate development.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
