Valeo Leases Warehouse Space in Amstar/Griffin Project in Nizhny Novgorod

By Amstar, PRNE
Monday, February 14, 2011

NIZHNY NOVGOROD, Russia, February 15, 2011 - Amstar and Griffin Partners are pleased to announce that French auto
parts manufacturer Valeo has leased approximately 4,700 square meters of
manufacturing and storage space at Volga Industrial Park in Nizhny Novgorod,
. Valeo will occupy this space as its first phase of operations in the
project and plans to occupy additional, larger spaces in 2012. Volga
Industrial Park ("VIP") is being developed through a joint venture between
private equity fund, Amstar, and developer, Griffin Partners.

"Valeo is a prime example of the quality international tenants that Volga
Industrial Park continues to attract," said Oleg Gusakov, general director of
Griffin. "Leasing demand has increased considerably in recent months and
clients are finding that VIP is a superior choice for their production and
distribution facilities."

Volga Industrial Park is a 33-hectare integrated industrial park for
manufacturers and distributors that provides clients with a secure area,
in-place infrastructure and energy supplies, as well as adjacent access to
the newly opened Nizhny Novgorod Customs Clearing Terminal. Located just
south of the Nizhny Novgorod city center in the Kstovo District, VIP is on
the M7 Federal Highway, a strategic transportation artery that connects
Moscow with Nizhny Novgorod, Kazan and further east. Phase 1 of VIP, with a
total area of 32,000 square meters, is constructed and is operating. When
construction on all phases is complete the total area of the complex will be
180,000 square meters.

About Amstar:

Established in 1987, Amstar is a real estate investment manager that
offers both commingled funds and tailored separate accounts to its
international and domestic clients. With approximately $1.50 billion of
assets under management, Amstar's current portfolio consists primarily of
retail, office, hospitality and multifamily holdings within the major markets
of the United States and select markets in Europe and Latin America. For more
information about Amstar visit the company's website at
or contact Amstar Executive Director Rob Toomey at +1-303-534-6322.

About Griffin:

Griffin Partners focuses on real estate development and asset management
in Moscow and select major regional Russian cities. Griffin develops and
manages property investments across office, mixed-use, elite residential and
industrial platforms. The firm is co-managed by its partners, Miles Jones and
Oleg Gusakov. For more information about Griffin visit the company's website

Rob Toomey, Executive Director of Amstar, +1-303-534-6322

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