LONDON-Orion Capital Managers has launched the marketing of its second fund, the Orion European Real Estate Fund II and is seeking to raise Euro 400 million ($485 million) by early next year.

LONDON-Orion Capital Managers is marketing its second fund, the Orion European Real Estate Fund II and is seeking to raise its capital by early next year.

LONDON-Land Securities is paying pounds 170 million ($295 million) to assume full control of the 600,000-sf Gunwharf Quays mixed-use project on Portsmouth Harbour in Hampshire.

LONDON-Prime Commercial Properties has acquired the 160,000-sf Capitol Shopping Centre in Cardiff, South Wales, from Scottish Widows Investment Partnership for pounds 82.55 million ($145 million), reflecting a net initial yield of 6.26%.

LONDON-Morley Fund Management and Crest Nicholson have acquired a prime site beside the M3 motorway in Chertsey, Surrey, which could become a million-sf business park.

LONDON-Hammerson and Standard Life, owners of the Brent Cross shopping mall in North London, have paid Castlemore $73 million for the proposed Brent Cross Retail Park development.

LONDON-International property adviser Savills has released an upbeat trading statement ahead of its corporate year end on 31 December 2003. The strong investment market is underpinning the business.

LONDON-Young's Brewery, which owns a substantial chuck of Wandsworth town centre in south-west London, has opened talks with Wandsworth Borough Council about a possible retail and residential-led redevelopment of its 5.5-acre site.