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Clifford Chance Advises IHI on Acquisition of Stake in Luxury Hotel and Residences Project in Moscow

Clifford Chance Advises IHI on Acquisition of Stake in Luxury Hotel and Residences Project in Moscow

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Clifford Chance has advised IHI plc, owners of the Corinthia Hotels Group, on the acquisition of a property at 10, Tverskaya, in Moscow, related to the recently announced Corinthia Hotel & Residences project in Moscow. The Moscow office of Bryan Cave Leighton Paisner reportedly advised the seller, Cyprus's Barlands Holdings Limited.

Clifford Chance reports that the property "has a listed facade and houses the famous 19th century Filippov Bakery." According to the firm, "further, permits in hand allow up to 43,000 square meters of development behind the retained frontage, as a result of which the consortium proposes to create a luxury Corinthia Hotel and branded serviced apartments. An element of high-end retail will also be featured on Tverskaya Street."

The Clifford Chance team was led by Moscow-based Partner Marc Bartholomy, with the support of Counsel Nick Diakoumis, Senior Associate Anna Krutik. and Associates Anastasia Ovchinnikova and Alexandra Kuznetsova.

Editor's Note: After this article was published, Bryan Cave Leighton Paisner confirmed that it had advised Barlands Holdings Limited on sale of the Tsentralnaya Hotel on Tverskaya street. The firm's team was led by Partner Rustam Aliev and included Senior Associates Oksana Orlovskaya, Alexey Koshelev, and Kirill Rubalskiy, Counsels Dmitry Ilyin and Andrey Neminuschiy, and Associate Director Anna Zvereva, and Andrey Neminuschiy, as well as London-based Partner Roman Khodykin, Moscow-based Counsel Yuri Babichev,  and Hong Kong-based Partner Ian Ivory.

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