Orion Capital Managers is opening an office in Spain and has appointed Roberto Roca as investment director to run it.
Roca has joined from French firm Cordillera Capital where he was managing director, said Orion. The firm is also staffing its Madrid branch with existing employees from its Paris office.
Aref Lahham, a founder of Orion, said in a statement that Orion had been studying the Spanish market closely over the last 18 months.
“We believe that now the banks are having to take on distressed real estate assets on their balance sheets, and that this will result in good investment opportunities in the very near future,” he added.
Earlier this year Orion closed its latest European fund, Orion European Real Estate Fund III, on nearly €1 billion.
Roca will be leading acquisitions, asset management and disposals in the whole of the Iberian peninsula. Prior to Cordillera Capital he held various positions at AEW Europe and LaSalle Investment Management.