PREF, a fund advised by British Land European Fund Management, has acquired Lima Retail Park in Viana do Castelo, Portugal from a 50/50 joint venture of Sonae Sierra and Miller Developments for EUR 18.5 mln. The transaction price reflects a net initial yield of 6%.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
