O1 Properties and Tactics Group have made a decision not to follow through the deal to sell 50% plus 1 share in JSC Bolshevik concluded in November 2012, O1 Properties informed.
O1 Properties and Tactics will retain their stakes in the project: O1 Properties will hold 50% +1 share, Tactics Group 50% - 1 share.
The cluster of buildings of the former Bolshevik confectionary plant on Leningradsky Prospekt near Moscow's Belorusskaya metro station will be converted into a cultural and business center before 2016, with office premises from 200 to 15,000 square meters available for tenants. The first tenant will be media holding Publicis Groupe taking more than 10,000 square meters.
O1 Properties is one of the largest owners of prime office properties (A class, B+/B class) in Moscow. The company owns and manages a portfolio of ten ready business centers in the key business areas of Russia's capital with a total rentable area of 426,000 square meters. As of the start of 2013, the market value of the company's asset portfolio was $3.7 billion.
Tactics Group, a private Russian company established in 1993, provides several types of services, primarily focusing on development, consulting and expert evaluation services in the real estate market.