Italy's Beni Stabili has completed the sale of an asset located in the centre of Milan close to the Duomo to an unnamed buyer for EUR 46mln. The property was part of the ex-Comit Fund portfolio which Beni Stabili bought in 2006 from the pension fund of Banca Commercial Italiana for EUR 1.1bn.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
