European real estate investment firm Orion Capital Managers has said that the second closing of its latest European real estate fund has left it near the target of EUR 1 bn in equity commitments from major investors. Orion European Real Estate Fund III will remain open to new investors through the first quarter of 2009.
European real estate investment firm Orion Capital Managers has said that the second closing of its latest European real estate fund has left it near the target of EUR 1 bn in equity commitments from major investors. Orion European Real Estate Fund III will remain open to new investors through the first quarter of 2009.
Orion Capital Partners said the fund will has the ability to invest in the full spectrum of real estate assets, loans, portfolios, or real estate companies across Europe. Orion Fund III, the company said, is a direct follow-on from two previous successful funds.
The investment firm said it profitably sold over 80% by value of all its previous funds' investments prior to the start of the credit crunch in August 2007. 'We are well positioned to capture the favourable investments arising from the current market turmoil,' said Van Stults, a founding partner of Orion Capital Managers.
'As in the past, Orion has shifted strategies to take advantage of market opportunities. In addition to direct asset purchases, our prior experience ranges from acquiring real estate loan portfolios, to taking listed companies private,' he added.
