Austrian listed real estate company Immoeast has bought a 90,000 m[sup]2[/sup] shopping mall project in the Romanian port city of Constance for EUR 185 mln. The mall will be developed by Hungarian builder Trigranit, in which Immoeast has a 25% interest. Construction is to start next summer, with completion scheduled for 2008.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
