Dutch real estate company ING Real Estate has teamed up with the property investment arm of GIC, one of the largest sovereign wealth fund in the world, to buy the new Roma Est shopping centre near Rome from Italian food-retailing chain Gruppo PAM for EUR 400 mln.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
