German property fund firm Commerz Grundbesitz said yesterday it had paid EUR 115 mln for the Portes de France office building currently under construction in Paris. The company said once construction is completed in the summer of 2008 the building will be included in its open-ended property fund Hausinvest Global.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
