French property company Gecina has completed the acquisition from Hines European Development Fund of the 19,612 m[sup]2[/sup] Khapa office and retail building at the former Renault sites in Boulogne-Billancourt, in Paris' western crescent, for EUR 157mln.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
