Germany's leading commercial property bank Hypo Real Estate Bank said on Tuesday that it is to provide EUR 241mln in financing for the Herkules portfolio. The portfolio was acquired by US private equity firm Oaktree from Germany's Deka Fonds in the summer of 2006.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
