Sunrise Properties, an investment vehicle owned by the four directors of CR Investment Management, has acquired a portfolio of 127 German properties for €360 mln.
Sunrise Properties, an investment vehicle owned by the four directors of CR Investment Management, has acquired a portfolio of 127 German properties for €360 mln.
Sunrise Properties acquired the Sunrise Portfolio, which comprises predominantly retail assets, in an enforcement sale from Treveria, which was in administration.
The investors secured debt financing for the deal from HSH Nordbank. CR Investment Management is the asset manager of the portfolio.
The Gloria Galerie retail complex in Berlin, which was part of the portfolio, was sold to an unnamed retail developer in a transaction closed at the same time as the portfolio deal. The loan – known as the Orange loan – was one of six remaining loans in the Talisman 6 CMBS securitisation.
Jacob Lyons, director of Sunrise Properties, said: ‘HSH took the initiative by going the extra mile to prove commitment and certainty of execution. The bank demonstrated the highest standards of professionalism and a genuine appreciation of the meaning of relationship banking.’
Sunrise Properties is an independent investment company whose owners, Jacob Lyons, Claudius Meyer, Stephen Benson and Torsten Hollstein are the co-founders, shareholders and managing directors of CR Investment Management.
CR Investment Management is a privately-owned group based in London and Berlin with 11 offices across Europe and €7 bn of assets under management.
