Orco Property Group has acquired the CAP2 building in Capellen, Luxembourg, from Belgian redeveloper Banimmo for EUR 31.5 mln. Orco, which is based in Luxembourg, will use part of the property as its headquarters. The building comprises 7.750 m[sup]2[/sup] and has 750 parking spaces. It is almost entirely let to 'first-class' tenants, Banimmo said.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
