Debt investors’ search for yield and fading concerns about the break-up of the Eurozone have revved up Italy’s commercial real estate loans market to a point where it is unrecognizable from its moribund state two years ago, write Francesca Galante and Cyril de Romance, co-founders of First Growth Real Estate.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
