Northern European Properties (NEPR) has reached a preliminary agreement to sell a portfolio of 14 properties in Sweden to Stockholm-based real estate company Kungsleden for EUR 322 mln. NEPR said the proceeds will be used to partially fund four acquisitions carried out in Russia last June. The transaction price reflected a yield of about 7.2%.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
