UK-based and US-listed property fund manager Invesco reported third-quarter pre-tax profit of $263.3 mln (EUR 179.5 mln), up 75% on the year-earlier period. Net revenues for the period came in at $ 720.3 mln, compared with $587.1 mln a year earlier. The net operating margin for the three months to end-September was 37.4%, Invesco said.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
