03.08.2009

 

Private investment firm Czura Thornton announces that it has secured in principal funding to acquire selected commercial properties in Russia.

Saint Petersburg, Russia; August 3, 2009:  Private investment firm Czura Thornton announces that it has secured in principal funding to acquire selected commercial properties in Russia. Czura Thornton, under the brand CT Properties, will initially focus on well located and tenanted class A and B properties in St Petersburg, Russia’s 2nd largest and Europe’s 4th largest city by population. Czura Thornton has been active in St Petersburg for more than 5 years.

Francois Olivier, Managing Director responsible for commercial property at Czura Thornton, said “While the Russian real estate market is clearly suffering at present, with decreased occupancy and falling rentals and capital values, we believe that in coming months a select number of excellent buying opportunities will emerge, satisfying our strict risk and return criteria. In addition, Saint Petersburg, located on the Gulf of Finland and with its strengthening position as a commercial, industrial and trading hub for Russia, offers particular growth opportunities.”

Tony Czura, Czura Thornton’s Chairman added; ”If one believes in the future of Russia, with its vast energy reserves and developing industry and infrastructure, then now is the time to prepare for investment in selected properties there. As a firm that has been on the ground in Russia for some years, we are excited by the potential to acquire quality properties with attractive yields and excellent prospects for capital growth.”

Czura Thornton is currently reviewing various opportunities and expects to acquire its first properties over the coming 6-12 months.

About Czura Thornton: Czura Thornton is a private investment firm founded by Tony Czura and Nick Thornton in 2003. The firm is invested in the life sciences, property and transportation sectors. Further information can be found at www.czurathornton.com.

Contacts: For further information about Czura Thornton or CT Properties please contact
Pavel Kaddouri at pavel.kaddouri@czurathornton.com or
Francois Olivier at francois.olivier@czurathornton.com.

 

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