Transactions - MAY 27, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Orion fund buys German office portfolio for $672m

by Andrea Waitrovich

Orion European Real Estate Fund IV, which is sponsored by Orion Capital Managers, has acquired a German office portfolio from CS Euroreal and CS Property Dynamic, two real estate funds managed by Credit Suisse. The sales price was approximately €618 million ($672.5 million), according to Real Capital Analytics.

Upon completion of the purchase agreement, the parties have agreed that Credit Suisse Real Estate Investment Management will continue as asset manager of the portfolio, also know as the Odin portfolio.

The Odin portfolio consists of 19 office properties; 10 properties are located in Berlin, Frankfurt, Hamburg and Stuttgart.The vacancy rate of the portfolio is 23 percent.

Among the assets in the transaction is the German headquarters of electronics group Philips in Hamburg with a sales price of €103 million ($116 million).

Since the dissolution of CS Euroreal began in 2012, the fund management has now sold 49 properties (inclu

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy