Orion eyes opportunities in Spain, opens Madrid office

Orion Capital Managers has opened an office in Spain to take advantage of attractive real estate investment opportunities. In a statement on Monday, the company said it has appointed Roberto Roca as Investment Director to run the office, which will be located in Madrid. Orion will be transferring staff from Paris to run the office including Investment Officer Frederic Saada.

Aref Lahham, a founding director of Orion Capital Managers, said: 'We welcome back Roberto, who we worked with at LaSalle Investment Management in Paris before setting up Orion. We have been studying the Spanish market over the last 18 months closely and believe that now that the banks are having to take on distressed real estate assets on their balance sheets, that this will result in good investment opportunities in the very near future.'

In recent months Orion has raised close to EUR 1 bn through its Orion European Real Estate Fund III to invest in real estate opportunities. Roca will lead Orion's acquisition, asset management and dispositions in the Iberian Peninsula. Prior to joining Orion, he was managing director of Cordillera Capital, a real estate investment management company based in Paris. Previously he held senior positions at AEW Europe and LaSalle Investment Management and has led teams investing in over EUR 1.5 bn in retail, office, hotel and logistics assets across Europe. He has an MBA from INSEAD and is a member of the Urban Land Institute.