Real estate private equity investment manager Cornerstone Partners has teamed up with Czech developer Crestyl Group to acquire Budimex Nieruchomosci, one of the largest Polish residential developers for over PLN 1,5 bn (€330 mln).
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
