Austria's property company Meinl European Land is developing a retail centre in the West Romanian town of Arad. The complex, which will provide some 60,000 m[sup]2[/sup] of rental space, will involve and investment of EUR 70 mln, Meinl said. The new centre marks the beginning of the company's expansion into Romania, the company said in a statement.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
