MOSCOW, May 20 (Reuters) - AFI Development (AFIDLq.L: Quote, Profile, Research), a Russia-focused real estate company, said on Tuesday it had agreed to sell an office building located in central Moscow.
Total proceeds from the sale of the Aquamarine II project, in which AFI has a 50 percent stake, will amount to $207 million that AFI will share with the other owner of the project.
AFI, 71 percent owned by Israeli conglomerate Africa-Israel (AFIL01.TA: Quote, Profile, Research), said in a statement the sale price implies an exit yield of 6.8 percent.
