Frankfurt-based DIC Asset has sold a portfolio of ten commercial properties to two Luxembourg investors advised by Westcity PLC and AXA REIM for a price of approximately EUR 86 mln. The properties cover a total area of about 60,000 m[sup]2[/sup] and are primarily used as office buildings. They are mainly located in mid-sized German cities such as Bochum, Gelsenkirchen, Ulm, Regensburg, Ingelheim and Neuss.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
