Tristan Capital Partners’ third European property investors special opportunities fund has sold a 500,000sqft mixed-use building in the West Midlands region of England for an undisclosed sum.
Tristan’s European Property Investors Special Opportunities 3 (EPISO 3) has completed the sale of The Cube located in Birmingham’s city centre.
The 25-storey building is home to a mix of restaurants and bars, a boutique hotel, luxury spa and gym, as well as apartments and prime office space.
Jean-Philippe Blangy, a managing director and head of asset management at Tristan Capital Partners, said: “The Cube was the first acquisition made by the fund, a truly iconic building offering a strategic location in the city centre of Birmingham.
“Over the holding period, the fund has executed the business plan, consolidated the tenancy structure to provide long, solid income from a diversified rent roll and, ultimately, realised this sale and achieved returns ahead of our customary projects.”
Tristan’s EPISO 3 fund, together with Neil Edington, a partner at EDG Property, acquired The Cube from Lone Star in December 2012.