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MADRID-Orion Columba, a fund managed by private equity group Orion Capital Managers, has purchased the Plenilunio shopping center in Madrid. Banif Immobiliare sold the mall for $316.6 million, according to a report in PropertyEU.

The mall was recently appraised to be worth $377.3 million and was valued at $431.2 million at the end of 2008.

In a separate transaction, Banif will also sell an office building in Las Rozas business park here. The sale to Orion Carina, a fund of Orion Capital Managers, will bring the real estate fund an additional $37 million.

To read the article in PropertyEU click here.

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