Orco Property Group, together with the Morgan Stanley Real Estate Fund V (MSREF V), is to take over state-owned Gewerbesiedlungs-Gesellschaft (GSG) for EUR 440 mln. With about 800,000 m[sup]2[/sup] commercial and light industrial space, GSG is the biggest provider of commercial property in the German capital and is presently owned by the Investitionsbank Berlin (IBB).
UK land and property developer Miller Developments and financing and real estate group William Pears Group have acquired the former HQ of the British Army in Scotland.
