"Moscow" on credit: the Khotins got the hotel on loan from VTB

Belarusian businessmen Alexey and Yuri Khotin could get Moscow Hotel on credit, despite the long-standing conflict with VTB.
10.03.2016
Forbes
Origin source
As we found out of Forbes, included in the top 10 ranking of the "Kings of the Russian Real Estate" Alex and Yuri Hawtin last year became the owners of the hotel "Moscow" (located next to the Red Square) through a loan, which they took in the VTB Group. This Forbes said a source close to VTB and Hawtin. "They have laid the available properties in VTB," - he says. About which the objects in question, a source at VTB has not explained, but it is known that Hawtin is one of the largest players in the real estate market in the main class below B +. The bank "Yugra", owned by Alexei Khotin, declined to comment.

Hawtin, according to unofficial information, speak the TC "Gorbushkin Yard" shopping center "Filion", BC East Gate and many other objects of real estate in the capital. In general, according to the familiar business, they own 2 million square meters. meters of real estate in Moscow, but the objects are not consolidated. According to the data of Forbes "Kings of the Russian Real Estate" rating ( "Moscow" does not include ownership of the hotel complex), Hawtin income from the lease of about 120 000 sq. m of retail space and 1,220,000 toat. m of office is about $ 320 million internal evaluation of real estate Hawtin Until 2014 devaluation of the year amounted to $ 2 billion, but "Moscow." - this is their "jewel", says a source close to Hawtin.

Hotel "Moscow" is the hotel Four Seasons Hotel Moscow (180 rooms), the gallery "Fashion Season" (41 000 sq m, of which leased -.. 28,500 square meters, according to Forbes estimates, the annual rental income of about $ 80 million ), as well as apartments. When buying Hawtin gallery "Fashion Season" reported that it was sold for $ 350 million. Two Forbes source, said that the valuation of the entire hotel complex could reach up to $ 1 billion. At the same time the heads of consulting companies say the price too high. According to the head of department of Colliers International Capital Markets Stanislaus Bibika, the cost of a hotel complex on today does not exceed 10 billion rubles, or about $ 140 million at the exchange rate of the Central Bank. Deputy Director General for Development of Industry CBRE Stanislav Ivashkevich hospitality says that the maximum estimate of the cost of the hotel - $ 180 million.

Hawtin actively credited in Sberbank, Rosbank, Royal bank of Scotland, Intesa and other banks. But the relationship with VTB before the deal to buy out the complex "Moscow" Suleiman Kerimov in 45 ladilis. In summer 2008, Alex received Hawtin VTB loan of 5.25 billion rubles at 14.5% per annum. A year later, the bank gave the first non-payment, and in March of 2010, filed a lawsuit to recover the debt. "In July 2010, of the" Bulletin of the state registration ", we learned that the decision on the Elimination of" machinery and equipment "(it has been issued a loan -. Forbes) and" Mega Group ", a co-signer on the loan - told Forbes Head the press service of VTB Bank Vadim Sukhoverkhov - and in August found that the building, which is collateral for the loan, in 2007 declared the rights of "Stroymontazh", affiliated with the structures Hawtin. "

At the end of September 2011 the Arbitration Court declared valid the bank demands to return the debt and penalties. Borrowers have promised to pay interest on the loan at the expense of payments of tenants, but soon the bank's representatives learned that the tenants were sent a letter saying that now is the sole recipient of paymentstsya LLC "Edelweiss", also affiliated with the structures Hawtin. In 2011, their debt to the bank amounted to 6.26 billion rubles. VTB tried to get a refund or credit to receive mortgaged building by bailiffs. But it seems that this story of the past. The press service of VTB said they will not comment Hawtin loan to buy the hotel "Moscow".