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. Last Updated: 07/27/2016

AFI Buys Parking Lot

AFI Development Plc, Israeli investor Lev Leviev's Russian property developer, agreed to pay the city of Moscow about $128 million for an unfinished underground parking lot at its AFIMall City complex.

AFI is in "advanced" negotiations with VTB Bank to finance the acquisition and subsequent construction, the company said in a statement last week.

(Bloomberg)