Investment bank Morgan Stanley is the owner of Real Estate Fund VII in Russia. Specifically, MS Real Estate Fund owns 50% of the shopping and entertainment centre Gallery in St. Petersburg. According to the Russian media Vedomosti, local consultants are looking for a third-party buyer who will then resell the asset to another Russian businessman. According to Russian real estate experts, several companies are interested in an asset worth 22.5-30 billion rubles, but no documents have yet been signed.
The Gallery is the last asset of Real Estate Fund VII in Russia. Earlier, the Fund sold its stake in the Moscow Metropolis shopping and entertainment centre to the Armenian investment fund Balchug Capital.