DTZ Corporate Finance has joined forces with German-Danish investor and asset manager Euro Ejendomme to launch a new hotel fund with a target size of EUR500 mln. The Euro Ejendomme Hotel Fonds I will run for seven years and be structured as a Luxembourg SICAV investment vehicle. It will be open for investment from both German and other European institutional investors. DTZ will be the coordinator and manager.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
