Orion Purchases Stake in Italian Shopping Centre
A subsidiary of Orion Income Return Partners, a pan-European core fund sponsored by Orion Capital Managers, has acquired a 50 percent stake in an Italian shopping centre from Foruminvest Italia. The acquisition price was in the region of €60 million. The property, Mongolfiera Molfetta, is located near Bari in southern Italy. The 35,000-square-metre shopping centre opened in March 2008 and includes a 10,000-square-metre IperCoop hypermarket and 2,750 parking spaces.