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. Last Updated: 07/27/2016

Immo, Rostik, Belgravia Form Venture

Immo Industry Group, Rostik Group and Belgravia Financial Services Group have formed a venture to invest $2 billion in industrial real estate in the former Soviet Union.

Belgravia also reached an agreement with Hilton Hotels, the second-largest U.S. hotel chain, to roll out Hilton's Hampton Inn and Garden Inn brands on each site developed by ImmoRosIndustry, the joint venture company, the companies said last week.

Rostik runs 280 restaurants and fast- food outlets in Russia, including Planet Sushi, TGI Friday's and Rostik's-KFC. Immo Industry, based in Belgium, develops industrial properties that are commissioned by clients. Belgravia is a New Jersey-based fund manager.

ImmoRosIndustry will develop a production and distribution facility in Moscow for a U.S. flooring manufacturer and will build industrial parks in St. Petersburg, Rostov-on-Don and Novosibirsk, followed by Moscow, Yekaterinburg and Samara.