London-listed residential property developer Nanette said it has sold 50% of its stake in the special purpose vehicle Taltoring that acquired a 151,000 m[sup]2[/sup] plot of land in Budapest last April. The land is currently designated for military use but Taltoring is working to have the zoning changed to allow commercial, retail and residential development.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
