German property investment company Degi has bought a building on Zeil, Frankfurt's main retail street, for over EUR 30 mln. The fully let commercial building was sold by Nassauische Sparkasse (NASPA), which will remain in the building as a long-term tenant. Degi was advised by Kempers Jones Lang LaSalle Frankfurt.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
