The commercial real estate franchisor’s Moscow office boasts impressive growth, going toe-to-toe with the biggest players in the Russian real estate market
Sperry Van Ness International Corporation (SVNIC), a full-service commercial real estate franchisor of the SVN® brand, announces the monumental success of its first Russian office who reported substantial growth in its first year of business.
Operating under the name SVN/Eastward Property Management, the office operates as an exclusive franchisee for facility management in the Moscow Region.
Starting from zero, SVN/Eastward Property Management currently manages a portfolio of over 3 million square feet of commercial real estate across Moscow, including several assets from top Russian and Korean development firms Group PSN, RB Invest, Lotte Rus and Valartis. The team at SVN/Eastward Property Management has also expanded, now totaling over 150 employees.
To ensure success in the newly entered Russian market, SVN partnered with local expert Marina Velikoretskaya to serve as General Director of SVN/Eastward Property Management. She brings an over 20-year history in Moscow’s facilities management industry previously serving as General Director of Colliers’ Facility Management Division and most recently as Managing Director for Cushman & Wakefield, who recruited her to launch their Russian facility management division.
“We attribute our immense success to all of the available SVN training programs, tools and leading-edge marketing materials,” says Velikoretskaya. “Having access to these technologies has persuaded our market that we are extremely qualified, and being a part the SVN brand has solidified our local reputation.”
Velikoretskaya has also been very active in the Russian real estate community, speaking at numerous conferences and regularly contributing to industry publications. The team at SVN/Eastwood Property Management is focusing on the future and looks to expand even further across major Russian markets.
“International expansion has always been a part of the SVN platform. In an increasingly complicated world collaboration is one of these principles that is drawing the world closer,” said SVNIC President and CEO Kevin Maggiacomo. “We are very fortunate to have partnered with Marina to lead the Russian team. Her long-standing, and successful, history in the market was key to attracting new clients in the Moscow area.”
According to a recent report by Ernst & Young, roughly 87% of companies surveyed said Russia was an “attractive” or “very attractive” market for investment properties. Not only is the Moscow market seen as a great opportunity, but it is also one of the biggest suppliers of investors for London, Southern Europe, UAE, Miami and New York.
SVN is the only commercial real estate firm that markets all of its properties to the entire brokerage and investment community. Producing approximately $9.1 billion in sales and leasing transactions in 2014, SVN shared commission fees with co-operating brokers in approximately 80 percent of those transactions. Working with its own competitors to bring the highest bidder to the table provides SVN Advisors with the opportunity to close more deals in less time.
Russia marks the third international market expansion for SVN who expanded into Mexico and Canada in November 2015. The commercial real estate franchisor plans to continue rapid international expansion into targeted markets located across the globe.