Chinese private real estate developer Cheung Kei Group, owned by Hong Kong billionaire Chen Hongtian, has acquired 5 Churchill Place in London's Canary Wharf from landlord Saïd Holdings for £270 mln (€306 mln). The deal was signalled by EuroProperty, the weekly news and analysis publication of PropertyEU Group, on 10 November.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
