According to Bloomberg, Orco (2 151 CZK, -0,92%) Property Group bought the CAP2 building in Luxembourg for EUR 31.5m from Banimo SA. The building develops 7,750 sqm and 250 parking bays. Part of the building will be used by Orco Property Group as headquarters but almost entirely let to first class tenants. Our view: Orco paid around EUR 4,064 per sqm therefore we see the news as neutral for today’s trading.