Orco Germany sells Leipziger Platz

Orco Germany has sold its unfinished project Leipziger Platz for €89m, to which €30m will be added upon completion. Of that total, €67m was paid today for the sole purpose of repaying “the bank”. The bank in question is not named in Orco’s press release.

“We are very happy that the sale of the Leipziger Platz project has been completed successfully andconstruction has started. We are convinced of the success of the project for both HGHI and Orco Germany” says Jean-François OTT, CEO of Orco Germany.

In November, Orco and High Gain House Investments announced they would be co-developing the project, once the sales purchase agreement was closed. Until that time (which is now), Leipziger Platz 12/13 was to be owned solely by Orco Germany.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s