DECONSTRUCTED: More drama for Orf

Citi Property Investors’ president Roger Orf is an investor in the UK’s Ambassador Theatre Group, which has produced such hits as West SideStory and the Rocky Horror Picture Show. PERE March 2010 issue

With the sale process of Citi Property Investors nearly over, president and chief executive Roger Orf won’t have to look too far for ways to kick back. One idea is to head down to the London’s Lyceum Theatre

Lyceum Theatre

currently showing the hit, Lion King, or any number of other properties owned by The Ambassador Theatre Group (ATG).

Orf, you see, is an investor and board member of ATG, which late last year acquired Live Nation’s UK Theatres in a £90 million (€103 million; $140 million) deal. The Lyceum is just one of a number of new assets for the group. Another includes the Apollo Victoria, also in London.

It is interesting to note that as well as Orf there are some other interesting investors on the board of Ambassador, including Bill Benjamin and Mick Pashley, European managing partner and finance director, respectively, of AREA Property Partners. Ambassador’s deputy chairman is Peter Beckwith, whose private company PMB Holdings just bought a London office investment with AREA having invested in the theatre group together.

We knew private equity real estate could be dramatic, but not this dramatic.