Open-ended funds have made a comeback in Germany by investing in the retail property sector, a new research report released by Jones Lang LaSalle, the Hahn Group and Dr. Lademann & Partner shows. The funds, which historically focused on shopping centres, are now expanding their activity in the country by investing in retail warehouse centres.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
