The National Asset Recovery and Management Agency (ARMA) has successfully completed theselection of managers for three investment-attractive real estate properties owned by russianGeneral Valery Kapashin in Poltava. The selection was made through the Prozorro publicprocurement system, ensuring transparency and competitiveness of bids. 

The winner of the tender was «Stalbat» LLC, which received the following assets for management: 

- A public house (cafe) with a total area of 205.7 sq. m. at 5A Chornovola Viacheslav Street, Poltava (estimated value: UAH 17.6 million)

- Non-residential premises in a residential building letter A-7 (bank branch) with a total area of1059.3 sq.m. at 2 Vatutina Street, Poltava (estimated value: UAH 48.3 million)

- An apartment with a total area of 242.3 sq.m. at 10 Kotlyarevskoho Street, Poltava, apartment 27 (estimated value together with a parking space: UAH 10.4 million)

The National Agency conducted a detailed inspection of all seized real estate. Based on the resultsof the inspections, detailed reports were prepared containing full information about the assets, theircomponents, technical condition and other characteristics important for effective management. 

As a next step, ARMA arranged for an independent appraisal of the property. The appraiser wasselected on a competitive basis, which guaranteed the objectivity of determining the market valueof the assets. The total amount of the first 11 assets appraised amounted to UAH 679.2 million. 

As a reminder, Valeriy Kapashin, a Russian army general and native of Poltava region, was buyingup real estate in Ukraine on a massive scale using funds of dubious origin and registering it in thenames of his daughter, son-in-law and other close associates.

In total, ARMA took over the management of :

- more than 50.000 square meters of non-residential real estate, including shops, shopping centersand offices 

- about 1000 square meters of residential real estate

- 1000 of hectares of land plots

ARMA will ensure that the seized assets of the Russian general work for Ukraine's economy anddefence capability and bring our victory closer. Funds from the management of these objects willgo to the state budget.

Any attempts to impede access to the newly elected manager, to exert pressure or interfere with thelegitimate process of asset management will be resolutely dealt with within the law.

The work of the independent appraiser is still ongoing for the other Kapashyn assets transferred toARMA. Once the assessment is completed, the managers will be selected through the Prozorrosystem.