German real estate bank Hypo Real Estate Group on Thursday reported net profit of EUR 266 mln for the third quarter, up from EUR 112 mln over the same period a year ago. Adjusted for tax-loss carry-forwards and the effects of changes to tax legislation, plus the recently completed acquisition of DEPFA bank, net income for the quarter came in at EUR 135 mln, up from EUR 109 mln a year earlier.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
