Orion European Real Estate Fund has bought two office buildings in Rome’s Via Tiburtina for a total of €100m (L194bn).
The properties, whose principal tenants are Telefonica Italia Mobile, were acquired from a private Italian family concern off a “strong yield,” according to an Orion spokesman.
The fund has raised €450m of risk capital and has the investment potential of over €1.5bn across western Europe.
Franco Gardella, a partner of Orion Capital Managers said: “We have made a serious and active commitment to the Italian market and feel excited about our future investments both in Italy and in the rest of Europe.”
Orion’s strategy is to invest in operational offices, logistics centres and entertainment centres with a strong focus on corporate portfolios and large private portfolios.
The fund manager was formed last year by three ex-LaSalle Investment Management directors, Bruce Bossom, Aref Lahham and Van Stults. It has offices in Chicago, Frankfurt, London, Milan and Paris.
Acquisitions include an office scheme at Issy les Moulineaux, south west of Paris and a 20,000m2 building being developed by Meunier, which has permission for a 16,000m2 extension. Orion is also working on deals in Germany.
