VICUS LIMITED

Vicus Limited was established in 2005 with the purpose to invest in the property markets of Russia, Ukraine and the Baltic States. The fund raised equity investments totaling 75 MEUR from its investors which include institutions as well as high net-worth individuals and family offices.

The funds were mainly invested in commercial real estate development projects in the target markets during 2005 - 2010. As of today, the investments in the Baltic States have been mainly divested very profitably. 

Vicus continues to own large office and warehouse properties in St. Petersburg and Kiev, respectively. In Moscow, Vicus currently develops a large shopping and entertainment center. All investments in Russia and Ukraine are joint ventures with strong international and local partners.


CURRENT INVESTMENTS

PULKOVO SKY

Pulkovo Sky is a modern business center located at the Pulkovo Airport in St. Petersburg. The business center, operational since 2009, has a gross leasable area of 45 000 square meters and is fully occupied by strong international tenants such as Gazprom and Sberbank. A large parking facility has room for 850 cars.

Pulkovo Sky is characterized by efficient architectural solutions and state-of-the-art building technologies, and has won numerous awards. In October 2011, it was chosen by the end users as the best business center in St. Petersburg. Pulkovo Sky is a joint project of EKE Group (60 %) and Vicus (40 %).

LOCATION

St. Petersburg, Russia

GLA

45 000 sqm

ANCHOR TENANTS

Gazprom and Sberbank

OPENING YEAR

2009

4DAILY MALL

Vicus is co-owner and developer of a 100 000 sqm multi-functional area project in Mytischi, one of the fastest growing cities in Moscow oblast immediately bordering the city of Moscow and the Moscow Ring Road (MKAD). The area project is located in the middle of New Mytischi, where huge amount of new housing is being constructed such as over a 1 000 000 sqm Yaroslavsky residential district by PIK Group and Novoye Medvedkovo district by Ingrad.

The first phase of the Mytischi project, a 55 000 square meters 4Daily Mall was opened for public in April 2017. 4Daily is a joint project of Vicus, SRV and Russian pension fund Blagosostoyanie managed by Trinfico.

A video about 4Daily can be seen at YouTube.

The second phase of the project, Mira Development, holding the 1.4 ha site and a valid building permit for 42 000 square meters of commercial premises, is also under development by Vicus and SRV. The site is also convenient for a built-to-suit retail center or even residential (after rezoning).

LOCATION

Mytischi, Russia

GLA

55 000 sqm

ANCHOR TENANTS

Miratorg and Ekonom

MIRA DEVELOPMENT

Mira Development is a joint project of Vicus and SRV. Vicus is co-owner and developer of a 100 000 sqm multi-functional area project in Mytischi, one of the fastest growing cities in Moscow oblast immediately bordering the city of Moscow and the Moscow Ring Road (MKAD).

The area project is located in the middle of New Mytischi, where huge amount of new housing is being constructed such as over a million sqm Yaroslavsky residential district by PIK Group and Novoye Medvedkovo district by Ingrad. The second phase of the project, Mira Development, holds the 1.4 ha site and a valid building permit for 42 000 sqm of a 3-floor retail center and a 7-floor office center.

The first phase of the area project, a 55 000 square meters 4Daily Mall, was opened for the public in April 2017.

Mira Development is a joint project of Vicus (75 %) and SRV (25 %).

LOCATION

Mytischi, Russia

GLA

42 000 sqm

Mira Development
Mira Development

LAND PORTFOLIO, UKRAINE

Vicus is a minority owner in a joint venture, which holds a portfolio of attractive development sites in several regional cities in Ukraine. The other owners of the joint venture are Finnish and Estonian investors including Trigon Capital and the Hartwall and Therman families.

COMMERCIAL SITE, KIEV

Vicus is developing a 4.6 ha land plot by the Boryspil Highway near Kiev International Airport together with Eurocon Ukraine, part of the Estonian construction group Nordecon. The land plot is suitable for commercial use (logistics, retail or offices).

It is located next to Fozzy hypermarket, Amako agricultural machinery dealer and TNT Express logistics center. Co-investor search is ongoing.

DIVESTED INVESTMENTS

KOMODOR WAREHOUSE COMPLEX

Komodor is one of the first Class A warehouse complexes in Kiev, and widely acknowledged for its high technical quality and professional management. The warehouse complex is located along the Zhytomir Highway, the main traffic artery between Kiev and Western Europe.

Operational since 2008, the facility of 68 000 square meters is almost fully leased to strong international and local tenants, such as Oriflame, Tarkett and Eldorado. Komodor was a jointly developed project of Vicus (40 %), PPF Real Estate (40 %) and Quadrum (20 %).

LOCATION

Kiev, Ukraine

GLA

68 000 sqm

ANCHOR TENANTS

Oriflame, Tarkett, Eldorado

YEAR OF DIVESTMENT

2017

Komodor Warehouse Complex
Komodor Warehouse Complex

PRISMA HYPERMARKET

In Narva, Estonia, Vicus had a shopping centre constructed for the Estonian Prisma hypermarket chain, subsidiary of the Finnish SOK. The area of the shopping centre is more than 13 000 sqm. AS Oma Ehitaja acted as the constructor. The shopping centre was opened in the beginning of October 2010.

Vicus sold the property to an Estonian real estate investment fund in January 2013.

LOCATION

Narva, Estonia

GLA

13 000 sqm

YEAR OF DIVESTMENT

2013

Prisma Hypermarket
Prisma Hypermarket

BALTIC PORTFOLIO

In 2005 - 2006, Vicus developed a portfolio of three commercial properties in Estonia and Latvia. The properties, fully leased to DHL, K-rauta and Efore, were divested in the end of 2007 to a German real estate investment fund.

The value of the portfolio was enhanced by strong tenant quality and high standards of construction. The investment in the development of the portfolio was highly successful with the annual return on equity exceeding 100 %.

LOCATION

Estonia and Latvia

YEAR OF DIVESTMENT

2007

K-rauta Liepaja
K-rauta Liepaja
DHL Riga
DHL Riga
Efore Pärnu
Efore Pärnu

OPERA PASSAGE SHOPPING CENTER

Vicus invested in a project where a historical building was reconstructed into a shopping gallery in the centre of Lviv, Western Ukraine. Opera Passage shopping gallery with a GLA of 3 000 square meters opened in 2009. Vicus sold its share in the project to a Western investor in June 2009.

LOCATION

Lviv, Ukraine

GLA

3 000 sqm

YEAR OF DIVESTMENT

2009

Opera Passage Shopping Center
Opera Passage Shopping Center

OLINDA SITE

Vicus developed a shopping center project on the 3.1 ha site located in Pašilaičiai, Northwestern Vilnius, right next to the Vilnius Western Bypass, and sold it before construction phase to a local buyer in November 2016.

LOCATION

Vilnius, Lithuania

YEAR OF DIVESTMENT

2016

Olinda site
Olinda site