German-listed real estate bank Eurohypo has refinanced the EUR 1.4 bn residential development at One Hyde Park in Knightsbridge, London. This enables PGGL, the joint venture between CPC Group and Waterknights, to complete the development of 80 luxury apartments and three retail units on the former Bowater House site. Construction of the 36,000 m[sup]2[/sup] project has begun and delivery is expected in 2010.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
