Invel Real Estate, the investment firm focusing on real estate and distressed debt opportunities across Europe, has completed the sale of an office building at Via Bernina 12 in Milan, Italy, to a fund managed by Patrizia Fund Managers, the German real estate asset manager, for €43 mln.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
