THE following list of persons who have been naturalised/registered as citizens of Malta during January 2015 and December 2015, is being published for general information in accordance with the provisions of sub-regulation 14(2) of Subsidiary Legislation 188.03.
Individuals named Alexander Chistyakov, Konstantin Sokolov are in the list.
June 8, 2016 (kachkin.ru)
The project of the hotel Jumeirah on Nevsky Prospect, 7-9, passed to Sberbank, which lent to the investors of the hotel. As in the past crisis, banks are collecting problem assets for debts. Sberbank will take over the project of creating a five-star hotel at the corner of Nevsky Prospect and Malaya Morskaya Street. In spring, the project was transferred to the bank that lent its investor – the company “IFG-Basis-Project”, which through the IFG Basis Foundation is associated with the ex-top manager of “Basel” Evgeny Tonkacheev and his business partner Konstantin Sokolov. The project is likely to be handled by Sberbank Capital, which manages assets transferred to the bank from debtors.
Mortgage hotel
IFG-Basis-Project LLC since 2010. According to the investment agreement with Smolny (http://whoiswho.dp.ru/cart/company/83905/), it is trying to turn into a five-star hotel a building with the area of 9.2 thousand m2 on Nevsky Prospect, 7-9, where Aeroflot’s central cash offices used to be located. The hotel was supposed to open its doors in 2014, but is still not ready. Although it has already been found The operator is Jumeirah Arab network. According to ” SPARK-Interfax (http://whoiswho.dp.ru/cart/company/2919428/)”, in April 2016 PAO became the owner of “IFG-Basis-Project” through several legal entities. “Sberbank”. So Wavelberg House, which was built in the early twentieth century for the bank, again becomes a banker. The press service of Sberbank confirmed that the bank got control over the asset “as part of the work with troubled debt.
General Director of “IFG-Basis-Project” Ilya Sokolov noted that Sberbank has become a participant in the restructuring of accounts payable. “Sberbank with the involvement of outside construction experts completes the expertise of the project,” – they say in the press service of the bank, adding that in parallel, work is being done to find investors to complete the work, and the bank is considering the possibility of completing it independently. Arrangements with the Jumeirah operator remain in place.
In addition to the rights to the investment project “IFG-Basis-Project” owns 1.6% of the building, the rest is owned by the city. Earlier, Sberbank opened two credit lines to the company – for $ 15 million and $10 million. Pledge on the loans were the rights to the investment agreement to create a hotel – his bank estimated at 5.09 billion rubles (approximately $79.3 million), but for the pledge was used a discount of 40% (a total of 3.05 billion rubles, (~$47.6 million). The deadline for fulfilling obligations under the contracts was only in 2023 and 2024. But it seems that the investor stopped servicing the loans.
“Sberbank Capital” has already completed complex projects of borrowers. This division, which was created specifically to work with troubled assets in the previous crisis, completed two skyscrapers in Moscow City (http://whoiswho.dp.ru/cart/company/2938656/), the resort “Gorki-Gorod” and other facilities.
United Chicago.
It is interesting that the final beneficiaries of the project on reconstruction of former airlines were unknown for a long time. He was connected then with billionaires Mikhail and Boris Zingarevich, and then with former Vice-Governor of St. Petersburg Yuri Molchanov, who denied his participation. But in the end it turned out that “IFG-Basis-Project” through the international fund IFG Basis belonged to Konstantin Sokolov and Evgeny Tonkacheev. The latter himself told about IFG Basis to the Chicago MBA alumni magazine. University (Chicago Booth Magazine) in 2014.
Evgeny Tonkacheev was CEO and then Managing Director of Basic Element company Oleg Deripaska in 2001.
(http://whoiswho.dp.ru/cart/person/729416/). In 2006, he headed Eastfield Investment Company (ZAO Eastfield). Through the Chicago University Alumni Association, Tonkacheev met Konstantin Sokolov and invited him to Eastfield. And in 2008 they left the company and founded IFG Basis Foundation.
It is not clear whether the fund’s founders will participate in it now. Ilya Sokolov, commenting on this question, said that “the information that Sokolov
Konstantin Sokolov and Evgeny Tonkacheev are co-owners of the Foundation, not true”. Boris Smirnov is also a co-founder of some companies associated with the Foundation’s projects. It was he who established IFG-Basis-Project in 2009, which was later reregistered as offshore. “As far as I know, this is just a lawyer who established the company. He did not participate in the project implementation,” Ilya Sokolov said.
We need a new contract
Under the investment agreement, IFG-Basis-Project transferred RUB 111 million to the treasury. The investor was to vacate the building himself, but the tenants’ resettlement was delayed. It did not take long to extend the investment agreement; it had to be completed in the pre-election period. In the summer of 2014 the hotel was not ready yet, and Georgy Poltavchenko, then acting governor, was outraged by the restructuring of the building. He did not like the parking device and the planned construction of the attic. By the way, the governor’s childhood memories are connected with the air ticket office building – he lived nearby, and his mother worked at air ticket offices. At the time of the extension of the investment agreement was postponed, but in December the company was allowed to complete the project by June 2016. But the building is still surrounded by a blue building fence. The Investment Committee said that in early June, representatives of “IFG-Basis-Project” said at a special meeting that they hoped to complete the project independently.
The committee specified that after the transfer of rights to the project to Sberbank, the investor has not applied for an extension, but in any case the existing contract will not be extended. If there are grounds for granting the building in a targeted way, a new contract will be concluded with the investor. “The term of the new contract will be determined by the investor himself. The maximum term can be 10 years”, – they say in the committee, pointing out that most of the work has already been completed.
More problems
Simultaneously with “IFG-Basis-Project” to Sberbank (http://whoiswho.dp.ru/cart/company/27508/) has passed the project of LLC “Gerda” on construction of a cinema-concert complex on a place of a cinema “Prometheus” on prospect Prosveshchenie, 80. By indirect signs, this project was also handled by IFG Basis beneficiaries.
The founder of Gerda was Boris Smirnov, and then it became registered for offshore locations. Ilya Sokolov confirmed that IFG Basis was a shareholder of the project, but minority.
The number of such examples when the rights to real estate or investment projects are transferred to banking structures is growing. For example, VTB (http://whoiswho.dp.ru/cart/company/17861/) in late March became the owner of the Eurasia Tower with an area of 193 thousand m2. The high-rise in Moscow city was transferred to the bank as a result of the debt of Suleiman Kerimov’s structures. Alfa Bank is trying to get control over the shopping center “Fili” through the court, also against the debt.
In retail banks the situation is the same: “VTB 24” said that recently began to receive more objects pledged, mainly apartments.
The number of cases requiring recovery on the pledged property is growing. Dmitry Nekrestyanov, head of the real estate and investment practice at Kachkin & Partners, calls it a forced measure. This is only an indicator of the crisis: if there is no money to be foreclosed on, we have to take property,” he says, “At the same time, any investment project is a non-core activity of the bank and is more of a headache than some real benefit”.
A snapshot from the fund’s Q2 2015 pitchbook, managed by Konstantin Sokolov and Roland Raeber.
Back in 2015, the Liechtenstein-based Gotthard Investment Fund — where Konstantin Sokolov served as Vice-Chairman and Managing Partner — was actively raising money for Russian real estate. According to their investor presentation, the fund had only four active projects in St. Petersburg, Russia:
According to the report, Sberbank was the fund’s “preferred lending partner,” offering exclusive access to financing, better rates, and even joint lending operations. The partnership also gave Gotthard preferential access to distressed real estate assets that Sberbank had acquired as collateral from its borrowers — a classic setup for picking up assets at distressed prices with state-backed firepower.
In 2020, the fund was successfully liquidated. A quiet end to a once-ambitious Russia-focused investment vehicle.
July 31, 2014
Smolny has not extended the deadline for the renovation of the former Trade Bank building on the corner of Nevsky Prospekt and Malaya Morskaya Street, which is slated to house a hotel operated by the international hotel operator Jumeirah Group. Acting Governor Georgy Poltavchenko expressed concerns regarding several aspects of the work, instructing Vice Governor Marat Oganesyan to discuss the project parameters with the investor. Experts believe these are merely temporary setbacks that will not affect Jumeirah’s plans for the project in Russia.
At yesterday’s meeting of the St. Petersburg government, the issue of extending the hotel complex project’s deadline until the end of June 2016 was discussed. The investor (IFG-Bazis-Proekt LLC) was to be fined 6.7 million rubles for the delay in handing over the building.
However, this did not happen due to a decision by Acting Governor Georgy Poltavchenko, who was dissatisfied with the pace of work and expressed doubts about the facility’s adequate parking space and whether conservation laws would allow for a swimming pool on the seventh floor. Mr. Poltavchenko instructed Marat Oganesyan to investigate the matter, tentatively postponing the issue of extending the deadline.
According to Mikhail Demidenko, Chairman of the Construction Committee, the volume of work completed on the façade and interior framework has reached approximately 20%.
Jumeirah Group said it is currently in talks with its partner, IFG-Basis-Project, but has no influence on the current situation.
As Interfax quoted Ilya Sokolov, CEO of IFG-Basis-Proekt LLC, as saying, “the company sees no reason to revise the project’s implementation timeline, and the issue of extending the reconstruction period will be resolved positively.” “All the issues raised by the governor have been carefully addressed by the investor in the project documentation, which has received a positive conclusion from the federal state expert review and has been fully approved by the Committee for State Control, Use, and Protection of Historical and Cultural Monuments (KGIOP),” the agency quoted him as saying.
As Kommersant previously reported, the new Jumeirah hotel will be located in the former Trade Bank building on the corner of Nevsky Prospekt and Malaya Morskaya Street. In May 2010, Valentina Matviyenko’s government awarded this building, along with several other city-center landmarks (two of which went to the companies of businessmen Boris and Mikhail Zingarevich), for renovation into hotels. Experts at the time predicted that the properties would have fetched at least $90 million at auction. Under the investment agreement, IFG-Bazis-Proekt vacated the building and transferred approximately 100 million rubles to the city treasury. As Mr. Sokolov told Kommersant, the hotel will have 74 rooms with an average size of over 45 square meters. $90 million will be invested in the project, $40 million of which will go toward restoration work. The hotel’s opening was scheduled for 2015. The base price for accommodation at Jumeirah Group hotels is $1,400-1,500 per room per day. According to the investor’s estimates, the average room rate in a five-star hotel in St. Petersburg is €450.
Jumeirah Group, founded in 1997, manages 22 premium hotels and resorts, eleven of which are located in the Persian Gulf region, six in Europe, and five in Asia. Another 15 projects are under construction. According to SPARK-Interfax, IFG-Basis-Project was previously owned by a subsidiary of IFG Basis—the Cypriot offshore company Applerson Holding Limited, which in 2009, along with Plaza Lotus Group, owned by Boris and Mikhail Zingarevich, simultaneously announced their plans to expand into the St. Petersburg hotel market at Smolny. The former head of IFG-Basis-Project, Danat Bulavko, also headed the Zingarevichs’ company, Adytum. However, the company denies their involvement in IFG-Basis-Project.
According to Colliers International in St. Petersburg, at the end of June 2014, the St. Petersburg hotel real estate market included 135 properties with a total of 19.3 thousand rooms (not including mini-hotels, departmental hotels, and hostels).
At the beginning of the third quarter of 2014, eight hotels with a total of approximately 1,400 rooms were under active construction in St. Petersburg, and their appearance on the market is expected by the end of 2016.
David Jenkins, Head of Hospitality at JLL, believes that Jumeirah, like other international operators, is unlikely to delay their development plans and entry into the Russian market due to the current political and economic situation. “Regarding the specific project in St. Petersburg, the hotel operator has no influence on this process, so all they can do is wait and see until the issue between the administration and the developer is resolved. Then they can draw conclusions and take concrete steps. Currently, we have not observed any decline in tourist flow to St. Petersburg compared to the same period last year. However, we will only be able to summarize the results and comprehensively analyze the city’s tourist occupancy during the summer period at the end of August. Then we will be able to track the dynamics and provide a further forecast for the situation,” he said.
Yulia Chayun
Pulished in Chicago Booth Magazine as of Winter 2014
From his office at Moscow based IFG Basis, Evgeny Tonkacheev, ’05 (EXP10), reflects on how his Booth MBA has propelled his career. Tonkacheev launched the investment company five years ago with a fellow Booth alumnus, Konstantin Sokolov, ’05 (XP74), whom he met through the Booth alumni network in Russia and recruited to a previous investment firm.
IFG Basis has been able to attract alumni investors from Russia and other countries for their projects. “This networking works for me very clearly,” Tonkacheev said in an interview. “The outcome is evident.”
His partnership with Konstantin Sokolov at IFG Basis is a testament to the power of the alumni network. Even though they studied on different continents (Sokolov earned his degree from the Executive MBA Program North America in Chicago), the two knew each other from a class week in Chicago and stayed in touch through the alumni network. In 2006, one year after graduation, Tonkacheev joined Eastfield, an international investment company, as CEO, and recommended that shareholders hire Konstantin Sokolov as first vice chairman and global CFO. He and Konstantin Sokolov left Eastfield in 2008 to launch IFG Basis.
Tonkacheev recalled that his colleague Igor Zhukov, ’02 (EXP7), invited him to a meeting of the Chicago Booth Alumni Club of Russia. He was impressed by the caliber of the alumni and, having done his own extensive research into the options, decided to apply to Booth. “I remember that when I met these guys, I had a desire to be their equal,” he said. […] “I had no special business education but got a lot of experience working for this big company,” recalled Tonkacheev, who by 2001 had become CEO at Basic Element Co., the giant industrial and financial conglomerate company established by the industrialist Oleg Deripaska.
Context for the archive:
This Chicago Booth Magazine article is a rare insider account of IFG Basis’s founding. Tonkacheev (former CEO of Basic Element, Oleg Deripaska’s structure) and Sokolov (Booth alumnus) confirm their partnership began through the alumni network. The fund was positioned to attract investments from Booth graduates in Russia and beyond. The article also documents their move from Eastfield (a company later linked to investment controversies in Russia) to IFG Basis.
October 31, 2013 (interfax)
International hotel operator Jumeirah Group, which is headquartered in Dubai and is a member of Dubai Holding, together with LLC IFG Basis Project, will by 2016 open the first Russian hotel in the chain in St. Petersburg, a spokesman for the LLC, German Aksimovich, told Interfax Thursday.
Investment is estimated at $90 million, of which $40 million will be spent on restoration work. The design of the project intents to maintain all the key elements of the original building, especially the facade and marble floors.
Jumeirah Group told Interfax the operator signed a hotel management agreement with LLC IFG Basis Project.
Jumeirah Group said the hotel would be at 7-9 Nevsky Prospekt at the Vavelberg House, the former Trade Bank building. The hotel will have 74 rooms, including 18 luxury rooms. The hotel will also have three restaurants, a bar, a spa, a hydro-massage pool on the roof, a conference center and boutiques.
St. Petersburg administration in 2010 gave IFG Basis Project permission to restore Vavleberg House and turn it into a hotel.
Jumeirah Group manages 22 hotels, resorts and luxury apartments. It has 11 facilities in the Persian Gulf, six in Europe and 5 in Asia. It also has 15 projects under construction.
The SPARK Interfax database shows that IFC Basis Project belongs to LLC Innovative Development Company, which is owned by Cyprus-based Wellinom Investments Limited and Wellinom Properties Limited, registered in the British Virgin Islands.
Credit: https://interfax.com/newsroom/top-stories/47154/
Jumeirah Group, the global hotel company and a member of Dubai Holding, has signed a management agreement with IFG Basis Proect LLC to manage a luxury hotel on Nevsky Prospect in St. Petersburg, Russia. The hotel is currently under development and is expected to open within the next three years.The hotel will be developed within the structure of Wavelberg House, a building of national cultural importance built in 1912, which stands on the…
Jumeirah Group, the global hotel company and a member of Dubai Holding, has signed a management agreement with IFG Basis Proect LLC to manage a luxury hotel on Nevsky Prospect in St. Petersburg, Russia. The hotel is currently under development and is expected to open within the next three years.
The hotel will be developed within the structure of Wavelberg House, a building of national cultural importance built in 1912, which stands on the corner of Nevsky Prospect and Malaya Morskaya Street, one of the most exclusive addresses in St Petersburg, close to the Hermitage and just 30 minutes from the city’s Pulkovo airport. The interior design by The Gallery, HBA London office, preserves many of the original features of the building, including its distinctive façade and marble floored banking hall. When completed the hotel will consist of 74 rooms, including 18 suites, three bars and restaurants, meeting facilities, a spa and rooftop hydrotherapy pool and prestige retail space fronting onto Nevsky Prospect.
Ilya Sokolov, Director General, IFG- Basis-Proect LLC, said: “We are very proud to be transforming this historic building into a luxury hotel and especially pleased that Jumeirah Group will manage it when it opens. The demand for high-end luxury hotel accommodation in St. Petersburg is strong and we are confident that this new property will capture the imagination of discerning travellers coming to the city.”
Gerald Lawless, President and CEO of Jumeirah Group, said: “Jumeirah’s hotels and resorts in Dubai have always been so popular with Russian visitors that we are delighted now to be able to bring the brand to Russia itself. The good news is that our first hotel in the Russian market is in such a prestigious location at the heart of St. Petersburg in a building that has such a rich heritage. We look forward to working with IFG to ensure a successful completion of the project and a spectacular launch of Jumeirah in Russia.”
Jumeirah Group currently operates 22 luxury hotels and serviced apartments, including 11 in the Gulf region, six in Europe and five in Asia. A further 15 hotels are now under development.
About Jumeirah
Jumeirah, a global leader in luxury hospitality and a member of Dubai Holding, operates an exceptional portfolio of 28 properties across the Middle East, Africa, Europe and Asia. In 1999, Jumeirah changed the face of luxury hospitality with the opening of the iconic Jumeirah Burj Al Arab and the brand is now renowned worldwide for its distinguished beachfront resorts, esteemed city hotels and luxury residences. From the contemporary Maldivian island paradise at Jumeirah Olhahali Island to the art-inspired Jumeirah Capri Palace in Italy and the modern twist on a British classic at Jumeirah Carlton Tower in London, the brand has become synonymous with warm and generous service and the ability to craft distinctive and purposeful experiences that bring joy to guests from across the world.www.jumeirah.com
Credit: https://www.hoteliermiddleeast.com/business/18651-jumeirah-signs-deal-for-st-petersburg-hotel
January 21, 2013 (versia)
The West is unlikely to help the domestic economy. The problem is not even in the quantity, but in the quality of foreign investments. In the eyes of some representatives of Western business, Russia appears as a country of easy money and lax laws. Therefore, so-called portfolio investors, actively buying shares during the period of stock market growth, flee with their capital at the first signs of instability. And “strategic partners,” declaring their readiness to participate in large-scale infrastructure projects, disappear without a trace as soon as they receive state preferences. Fortunately, not all foreign investors try to make money on the collapse of individual enterprises and entire sectors of the Russian economy. Nevertheless, judging by the results of many years of activity of the Slovak businessman Igor Ledecky, even one such schemer can cause damage to several regions at once.
Slovak businessman Igor Ledecký threatens to inflict significant damage on Russian infrastructure with his projects
The Eastfield Group of the Slovak businessman Igor Ledecký promises new large-scale failures. His projects in Novosibirsk, Cherepovets and Chelyabinsk are at risk of repeating the fate of the previously launched “epic of deception” of regional governors.
“Epic of Deception”
Slovak Igor Ledecký, owner of the Eastfield investment group, arrived in Russia several years ago with loud slogans about investing tens of billions of rubles in large infrastructure projects. He promised to build unique logistics parks, elite residential complexes, golf resorts and even large sports facilities. Regional authorities willingly believed the energetic foreigner, allocating land plots, providing benefits and even guaranteeing loans from Russian banks.
However, almost all of Ledecký’s grand initiatives ended in failure. Projects were frozen at the design or initial construction stage, debts accumulated, and local budgets suffered losses. The “Investor of Major Failures” left a trail of unfinished facilities and deceived expectations across the country.
Tonkacheev partnership with Konstantin Sokolov at IFG Basis is a testament to the power of the alumni network. Even though they studied on different continents (Sokolov earned his degree from the Executive MBA Program North America in Chicago), the two knew each other from a class week in Chicago and stayed in touch through the alumni network. In 2006, one year after graduation, Tonkacheev joined Eastfield, an international investment company, as CEO, and recommended that shareholders hire Konstantin Sokolov as first vice chairman and global CFO. He and Konstantin Sokolov left Eastfield in 2008 to launch IFG Basis.
Novosibirsk: Logistics Park “Tolmachevo”
One of the flagship projects of Eastfield Group — the construction of a large logistics park near Tolmachevo Airport in Novosibirsk. Investment volume — 1.3 billion rubles. The project received support from regional authorities, but after the design phase, a scandal erupted: contractors were accused of embezzling funds. Construction stopped, and the site turned into another “long-term construction.”
Anapa: Golf Resort “Vinogradnaya Dolina”
Even more ambitious was the idea of a golf resort in Anapa — “Vinogradnaya Dolina” with an investment of 20 billion rubles. Foreign loans were attracted from Austrian and Swiss banks. However, the project stalled: assets were withdrawn offshore, and lawsuits began in European courts and Russia. Local investors and authorities were left with nothing.
Chelyabinsk: Threat to Heat and Power Supply
In Chelyabinsk, Eastfield’s unfinished facilities posed a real threat to the city’s heating and electricity supply. Half-built boiler houses and power lines hung in the air, creating risks for the infrastructure.
Conflicts with Partners
Ledecký’s activities also led to high-profile conflicts. In particular, a dispute arose with the Czech PPF Group of billionaire Petr Kellner over control of agricultural projects in Russia (AGRIKOL and others). PPF demanded compensation of $13 million. Ownership structures were often hidden through Cyprus (Stopcore Limited).
New Threats
Despite past failures, Eastfield Group announces new projects in Novosibirsk, Cherepovets and Chelyabinsk. Experts warn: history may repeat itself, and Russian infrastructure risks new damage.
May 3, 2012
The Justice Department has returned approximately $44 million to victims of a securities fraud scheme related to Qwest Communications International Inc., Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division, U.S. Attorney John F. Walsh for the District of Colorado and Special Agent in Charge James F. Yacone of the FBI’s Denver Division announced today.
The $44 million in funds were forfeited to the United States as a result of the 2007 federal conviction of Qwest’s chief executive officer, Joseph P. Nacchio, for securities fraud. The forfeited funds are being returned to 112,210 victims who incurred losses on Qwest securities purchased during the fraud scheme.
Between 1999 and 2002, Nacchio publicly announced unrealistic revenue projections for Qwest and then caused Qwest to issue false and misleading statements to the public about the company’s financial condition, as part of his scheme to commit securities fraud. After the irregularities were discovered, Qwest stock, which had traded as high as $60 per share, plummeted to about $1 per share.
Following his conviction, Nacchio was sentenced to 70 months in prison and was ordered to forfeit $44 million in funds, the net proceeds he received from the fraud scheme. Nacchio was also ordered to pay a $19 million fine, which, by law, was paid to a fund for victims of crime.
“Securities fraud is a particularly insidious crime because it undermines public confidence in the financial markets,” said U.S. Attorney Walsh. “I am pleased that we were able to recover more than $44 million in criminal proceeds and return it to innocent Qwest investors.”
“Following his conviction for securities fraud, Mr. Nacchio was ordered to forfeit $44 million,” said Assistant Attorney General Breuer. “Today, we are fulfilling a central objective of the Criminal Division’s Victim Asset Recovery Program and returning those funds to the victims of Mr. Nacchio’s crime.”
“In addition to seeking criminal prosecutions to protect our financial markets, seizing and forfeiting ill-gotten gains is a priority for the FBI,” said FBI Special Agent in Charge Yacone. “We are hopeful the money being returned will remedy some of the damage caused by Nacchio.”
The criminal case against Joseph Nacchio was prosecuted by the U.S. Attorney’s Office for the District of Colorado and the Justice Department’s Criminal Division. The case was investigated by the FBI.
The distribution of funds to victims was authorized and overseen by the Department of Justice’s Victim Asset Recovery Program in the Criminal Division’s Asset Forfeiture and Money Laundering Section. The Victim Asset Recovery Program is comprised of a team of experienced professionals, including attorneys, accountants, auditors and claims analysts, who work with federal prosecutors, regulatory agencies, financial investigators, claims administrators and the private bar to recover assets from financial crimes and return them to the victims. In hundreds of cases, the program has successfully utilized its specialized expertise to efficiently convert forfeited assets into victim recoveries.
Persons with questions about the Qwest distribution should contact the Remission Administrator at 1-877-268-3001, or visit the website at www.gilardi.com/qwestremission.
Updated February 6, 2025
January 19, 2012 (kanoner)
The reconstruction project of the Shagin House at 145b on the Fontanka River Embankment may be backed by the IFG Basis fund. In 2009, the then-Governor Valentina Matvienko promised her support for the project.
The Cyprus-based IFG Basis fund was established to invest in commercial and residential real estate in Eastern Europe, Russia, China, and the Persian Gulf countries. It maintained long-standing relationships with global hotel operators, including Hilton, Marriott, Ritz, Four Seasons, and Peninsula.
In 2009, Valentina Matvienko and Roland Burger, Vice President of IFG Basis, signed a memorandum of understanding. Plans were made to develop several five-star hotels in St. Petersburg, encompassing both the acquisition of existing projects and new construction. One of the nearly completed projects is a hotel in the “House with Lions,” which is scheduled to open this spring.
The investor for the Shagin House reconstruction project at 145b Fontanka is JSC “Nezhiloy Fond Consult.” Market participants believed the Molchanov family to be behind this company. However, sources from “Karpovka” suggest that IFG Basis may also be involved in the project.
Irina Vasenko, General Director of “Nezhiloy Fond Consult,” stated today to a “Karpovka” correspondent: “All questions regarding the company’s founders are confidential.” Ms. Vasenko added, “Answers to questions related to the technical aspects of the project (plans, timelines, documentation) will be published tomorrow on our official website — fontanka145.spb.ru.”
August 26, 2007- October 8, 2011
In December 2007 — at the absolute peak of the pre-crisis housing bubble — Konstantin Sokolov purchased a 2-bedroom, 2-bathroom condominium on the 54th floor of 33 W. Ontario St. in Chicago. The unit, measuring 1,361 square feet, was bought for $525,000 from Lance Tishkevich, according to public transaction records published by the Chicago Tribune.
The deal closed just as the market was about to implode.
Less than four years later, in October 2011, the same unit sold for just $339,900 — a loss of $185,000 (roughly 35% of its value). The timing and price point suggest a possible bank sale or distressed exit, though public records don’t specify the circumstances.
By 2020, the property was being marketed at an estimated $479,799, still well below what Sokolov paid in 2007.
Credit: https://www.chicagotribune.com/2007/08/26/residential-sales-transactions-51/
Credit: https://www.redfin.com/IL/Chicago/33-W-Ontario-St-60654/unit-54D/home/26813927