Orion Capital Partners, on behalf of its European Real Estate Fund IV, is close to buying three malls from Moorfield Group for £120m – a 7.5% yield.
They are the 267,000 sq ft Ridings in Wakefield, Yorkshire; the 165,300 sq ft Capitol in Cardiff, Wales (pictured); and the 220,000 sq ft Cornmill in Darlington, County Durham.
The malls are the final assets in the Moorfield Real Estate Fund, most of which was sold along with MREF II to Lone Star for £1bn in 2014. Savills advised Orion Capital Partners; Moorfield Group was unrepresented.
