Tristan Fund Completes Successful Disposition of The Cube
Source: Tristan Capital Partners Press Release
Tristan’s European Property Investors Special Opportunities 3 (EPISO 3) Fund has completed the successful disposition of The Cube, the landmark mixed-use building located in the heart of Birmingham’s city centre.
Jean-Philippe Blangy, Managing Director – Head of Asset Management, Tristan Capital Partners, said: “The Cube was the first acquisition made by the Fund, a truly iconic building offering a strategic location in the city centre of Birmingham. Over the holding period, the Fund has executed the business plan, consolidated the tenancy structure to provide long, solid income from a diversified rent roll and, ultimately, realised this sale and achieved returns ahead of our customary projects.”
The 500,000 sq.ft, 25-storey class A building is home to a vibrant mix of restaurants and bars, a boutique hotel, luxury spa and gym, as well as apartments and prime office space. Birmingham’s central business district, main railway station and International Conference Centre are all within walking distance of The Cube. Designed by Ken Shuttleworth (the architect behind London’s The Gherkin and Hong Kong’s Chek Lap Kok Airport), The Cube strikingly marries Birmingham’s industrial heritage with a vision of the future.
Tristan’s EPISO 3 Fund, together with Neil Edington, Partner at EDG Property, acquired The Cube from Lone Star in December 2012. Stephenson Harwood advised on legal and corporate matters for the acquisition and disposition of The Cube.