Kuwait Finance House (KFH) has sold its Swedish real estate portfolio for EUR 429 mln, realising a net profit of EUR 77 mln, KFH's manager at the International Real Estate Department Ali Othman Al-Ghannam said during a press conference. The portfolio has been sold to a fund of Acta, an Oslo-listed company mainly active in Scandinavia, at an annual internal rate of return of 21%, Al-Ghannam stated.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
