Orion European Real Estate Fund IV sponsored by Orion Capital Managers LLP has bought the 62,874 m² Domus Shopping Center at Rosny-sous-Bois on the eastern outskirts of Paris, France, from KP Investments, a subsidiairy of Rabo Real Estate Group.
Domus was completed in 2006 and comprises a covered shopping center focused on home products and furnishings. It is anchored by both local and international home retailers including Alinéa, Boulanger, Truffaut, Roche Bobois, Natuzzi, BoConcept and Zodio which is opening its new store at the end of April.
Aref Lahham, managing director and a founding partner of Orion Capital Managers, says: “our business plan is to capitalize on the new tenants and to relaunch Domus with a comprehensive marketing campaign and capital investments to improve the customer experience.”
The center includes two floors of underground car parking and an additional car park on the roof.
The center, managed by Accessite, is located on the junction of the A3 and A86 highways, four kilometers east of the Paris ring road and will benefit from the opening of a new metro station in 2019 adjacent to Domus.
CA-CIB, advised by LPA and Etude Ginesty, arranged the financing of the acquisition.
King & Spalding, Etude Notariale de Meudon and Clifford Chance advised Orion.
SCP CHEUVREUX & Associés, Osborne Clarke S.E.L.A.S., Landwell & Associés and PwC advised KP Investments.
Source: Orion Capital Managers