GE Real Estate UK, in partnership with Bell Hammer, has acquired an office development in the town of Welwyn Garden City in Hertfordshire, England for £10.75 mln (almost EUR 16 mln) from Shepherd Development Company. The scheme, called Alchemy, comprises 3,800 m[sup]2[/sup] of air conditioned office space with 146 car parking spaces.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
