Property investment companies Societe Fonciere Lyonnaise (SFL) and Ile-de-France have agreed the sale of Parelys, which owns a property at 118 avenue des Champs-Elysees in Paris, for a net prize of EUR 68 mln. The buyer Risanamento Europe has agreed to repay Parely's debt as part of the transaction, valuing the building at around EUR 92 mln.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
