Porto Investment Hungary said on Thursday it has signed a EUR 29 mln facility agreement with MKB Bank Zrt for the redevelopment of the Kozraktar complex in Budapest. The company, which was awarded the project in a public-private partnership (PPP) with the city of Budapest, expects construction to start in late spring 2008, with completion planned for the end of 2009.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
