Orion Capital Managers has sold an asset which formed part of the Odin office portfolio acquired earlier this year to Triuva Kapitalverwaltungsgesellschaft (previously known as IVG).
Orion Capital Managers has sold an asset which formed part of the Odin office portfolio acquired earlier this year to Triuva Kapitalverwaltungsgesellschaft (previously known as IVG).
Located in Berlin, the Shell-Haus office building was sold by a subsidiary of Orion's Fund IV, for around €80 mln.
It provides 18,400 m2 of space leased to the Federal Ministry of Defence.
JLL was the exclusive advisor of the seller. The legal advisor to the seller was King & Spalding.
European private equity firm Orion sealed the much-anticipated €600 mln acquisition of the Odin office portfolio in May. Orion bought the 20-asset portfolio from funds managed by Credit Suisse Asset Management.
It is understood Credit Suisse sold the Odin assets as part of the liquidation of its open-ended funds, the €3.2 bn CS Euroreal and the smaller CS Property Dynamic.