Investment REIT company Inzhur plans to merge five of its funds into one—Inzhur REIT—and is considering investments in retail parks, according to the company’s Telegram channel. According to the report, Inzhur REIT will include the funds “1001,” “2001,” Inzhur Supermarket, “Inzhur Zhitny,” and Inzhur Ocean. At the same time, Inzhur Energy will remain a separate fund.
Inzhur REIT will be valid until May 20, 2045, with a nominal value of UAH 10 per certificate and a yield of 9.5% per annum in US dollars. The planned issue is UAH 10 billion. The company will convert the acquired certificates of existing funds at the net asset value into certificates of the combined fund.
“Inzhur’s strategic goal for the next three years is to teach one million Ukrainians to invest at the most comfortable price: the new combined fund will make this possible,” the company said.
The new fund is expected to invest in real estate, land plots, corporate rights of companies, construction of new facilities, corporate bonds, and domestic government bonds. At the same time, retail parks should become a new area of investment.
“Retail Park is a very popular European form of ‘everything in one place’ establishments. Along highways and on the outskirts of cities, with excellent parking, there are various stores united by the concept of a shopping area. Inzhur is already purchasing land for its first retail park in the Kyiv region, exploring options, and conducting negotiations,” the statement said.
As Inzhur founder Andriy Zhurzhiy told Interfax-Ukraine, plots of 1.5-3 hectares in the suburbs with high traffic of potential buyers are being considered for future retail parks.
In addition, Inzhur is already preparing to acquire an existing shopping and entertainment center west of Kyiv worth about $36 million: technical, legal, and financial audits are being conducted, and documents are being prepared to obtain permission for the acquisition from the Antimonopoly Committee. It is noted that the shopping and entertainment center generates 15% of net operating income annually.
The first Ukrainian service for joint real estate acquisition, Inzhur REIT (Real Estate Investment Trust), was launched in early 2022 before the war. As of August 7, six Inzhur REIT real estate funds managed assets worth UAH 3.56 billion, had 20,400 co-owners, and generated UAH 866.7 million in dividends.
The founder and investor of Inzhur is Andriy Zhurzhii, chairman of the supervisory board of the investment fund Zhurzhii Ventures. The fund owns the development company Smile Development (which built and sold more than 35 Silpo and Fora supermarkets to investors, as well as the Optimisto residential complex in the village of Hatne near Kyiv) and the asset management company Investment Partners, which manages assets worth UAH 45 billion in Ukraine and the European Union.
Real estate investment fund Inzhur intends to cooperate with the international company Colliers to renovate Zhytniy Market in Kyiv.
“Inzhur is ready to turn the neglected Zhytniy Market into a world-class destination. We have held successful negotiations with the specialists of the international company Colliers. They are ready to create a concept for the renovation of Zhytniy Market,” Inzhur’s Telegram channel reports.
According to the report, Colliers’ work will be financed by the fund. Inzhur expects to buy the Zhytniy Market building and turn it into a gastronomic market with street food and a seating area, similar to the TimeOut Market in Lisbon.
As reported, on March 18, the Kyiv City State Administration’s Department of Communal Property announced a tender for the lease of Zhytniy Market. The auction is scheduled for March 25. The starting price is UAH 2.4 million per month. Later, Kyiv Mayor Vitali Klitschko announced plans to announce a new auction and extend the deadline for submitting applications.
For its part, the Inzhur investment fund insists on announcing a privatization auction instead of a lease auction to buy the building from municipal ownership.
Inzhur REIT (Real Estate Investment Trust), the first Ukrainian service for the joint purchase of real estate, was launched in early 2022. The service offers a number of real estate properties leased for 10-25 years to the Ukrainian supermarket chain Silpo and the international fast food chain McDonald’s.
The founder and investor of Inzhur is Andriy Zhurzhii, Chairman of the Supervisory Board of Zhurzhii Ventures Investment Fund. The fund owns Smile Development, a development company that has built and sold more than 35 Silpo and Fora supermarkets to investors, and is developing the Optimisto residential complex in Gatne near Kyiv, and Investment Partners, an asset management company that manages UAH 45 billion in assets in Ukraine and the European Union.
