Land Securities and Places for People have announced the formation of a 50-50 joint venture to acquire some 971 hectares (2,400 acres) in the UK. The land, which is to the north of Harlow, will be developed to help meet housing and employment needs over the next 25 years.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
