Invesco Real Estate has bought hotels in Stockholm and Hamburg for a total investment of EUR 230mln. The sale-and-leaseback transaction of the Marriott Courtyard Hotel project in the Swedish capital from listed property group Faktor was Invesco's first hotel deal in Scandinavia. The purchase is expected to close in the second part of 2009.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
