British developer Raven Russia has taken a $100 million loan from Sberbank, setting a new trend on the domestic money market.

      With the European banks reeling from the effects of the Eurozone crisis, domestic and international firms operating in Russia are finding it extremely difficult to borrow abroad.

      Instead, they are now increasing turning to Russian banks who have become much more flexible after the 2008 financial meltdown.

      That’s why Raven Russia says it’s happy to partner up with Sberbank to re-finance an earlier loan and fund the construction of a warehouse facility just outside Moscow.

      Raven Russia Limited is a property investment company specialising in commercial real estate in Russia.

      Its portfolio consists of some 1.3 million square metres of Grade ‘A’ warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk. Raven Russia also holds 342 hectares of land across Russia and CIS available for future development.

      The company's major tenants are X5 Retail Group, Dixy Group, Auchan, Leroy Merlin, Danone, Bacardi, Pepsi, DHL, DSV (Suzuki, Nissan+Renault), Nippon Express (Yamaha), and others.