ING European Office Fund has acquired a vacant office property in Frankfurt's central business district from Union Investment Real Estate for EUR 28.5 mln. The building at Mainzer Landstrasse provides 5,500 m[sup]2[/sup] of lettable area and is the third asset in the fund's German portfolio.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
