The owners of the Troika shopping center (total complex area is about 152,000 sq. m), one of the largest retail real estate assets in the Central Administrative District of Moscow, have closed a deal to sell the complex to an outside investor. At the same time, the parties confirm that all lawsuits related to disagreements over the cost of reconstructing the shopping center on Verkhnyaya Krasnoselskaya Street will be withdrawn, and other disputed issues will be settled out of court. The buyer is Concern Energotekhnologii, which is developing a federal chain of furniture and interior centers under the Kubatura brand. Previously, shares in the property complex were owned, apart from those held by Kama Capital, by OJSC First Refrigeration Plant (part of the Auchan group) and LLC Le Monlid (formerly Leroy Merlin).
In 2024–2025 differences arose among the co-owners of the Troika shopping center over the estimated cost of a full-scale reconstruction. Works, initially estimated at several billion rubles, following technical inspections, required significantly larger investments. Disagreements over the allocation of expenses led to the filing of claims in arbitration, but during negotiations the parties reached a mutually acceptable solution, which made it possible to resolve all claims and remove legal risks for the asset.
“We came to the understanding that the best option for the asset and all parties involved would be to consolidate under a single owner leading to a deal benefitting all parties involved. The new owner searched for an asset for a long time and chose Troika, thus removing the existing contradictions and eliminating all obstacles to further cooperation. It is premature to say in what specific formats that cooperation might be realized, but we see excellent prospects for new projects with our French partners,” commented Rustem Zaripov, CEO of Kama Capital.
The sale of the Troika shopping center opens the door to a new stage of the asset’s development. The new investor plans to carry out a comprehensive modernization of the center and increase its commercial efficiency, taking into account its strategic location in one of Moscow’s most dynamic districts.
“We searched for a quality asset with high potential in Moscow for a long time and chose Troika. Its location and structural features offer excellent opportunities to create a modern retail space. We plan to completely renew the building’s concept, carry out major repairs and replan the premises, give it a new life while preserving its retail and recreational function,” a statement from Concern Energotekhnologii, the new owner of the asset, states.
Kama Capital (JSC) is an investment holding company engaged in the investment, operational management and development of iconic and prospective commercial real estate properties. Currently the company owns shopping and office centers with a total area of over 487,000 sq. m. The company's assets are located in 11 regions of Russia, including greater Moscow and St. Petersburg, the Volgograd and Rostov regions, among others. The market value of assets under management is 71 billion rubles.