Sberbank : SberCIB extends RUB 47 bn line of credit for construction of Level Michurinsky residential complex in Moscow

SberCIB has concluded a credit agreement to provide over RUB 47 bn in financing for developing company Level Group's construction of the Level Michurinsky residential complex. The funds are to be provided for a period of 69 months.

Level Group is one of the bank's key clients with which we have collaborated over the past three years. We co-implemented a number of large-scale modern, stylish, high-tech comfort and business class housing projects that adhere to the highest standards. We are glad to participate in the company's new project. We will be providing RUB 47 bn in financing, which is the largest amount in our history of cooperation. In the framework of the deal, we are providing funds to finance pre-project and project works, as well as a financial guarantee amounting to over RUB 4 bn.

Anatoly Popov

Deputy Chairman of the Executive Board, Sberbank

The business class Level Michurinsky residential complex will be built at 11 Ozyornaya Street in the Ochakovo-Matveevskoe district of Moscow's Western Administrative Okrug. Eleven residential corpuses with underground parking will be built on the 7.85 ha territory. The residential complex will occupy a total area of 250,000 m², including 235,000 m² of living space (3,762 apartments). The Level Michurinsky project will be completed by 2026 and is divided into three stages.

SPEECH architectural bureau, one of the largest in Russia, is designing the residential complex. Wowhaus bureau, which designed some of the most popular public spaces in the regions and capital, developed the beautification concept. The building plot is located on the boundary of the green zone on the banks of the Ochakovka, which leads to the Bolshoi Ochakovsky Prud recreational area. The Olympic Village Park is also located nearby. The contemporary architecture of the residential complex will fit in well with the surrounding natural landscape and its solutions for composition will reflect the tectonics of the water.

Sberbank has for several years been Level Group's main financial partner. The line of credit for the construction of the Level Michurinsky residential complex is the largest ever extended, much like the project itself is the largest. It will be bright and high-impact and will be the dominant element of the Ochakovo-Matveevskoe district, harmoniously complementing the city environment.

Kirill Ignakhin

CEO, Level Group

SberCIB is a dedicated business segment within the bank's corporate investment unit, which works with the biggest customers. This line of business provides a wide range of financial solutions, from traditional lending to mezzanine and equity financing, as well as hedging of FX, interest, and commodity risks, operations in financial markets with access to international platforms, investment analytics, and transaction support.