REIT Asset Management has teamed up with Italy’s Aedes Investment Management to launch a £ 5 bn (EUR 7 bn) global investment company, Property Week reported. The 50-50 joint venture between REIT Europe and Aedes Investment Management, a subsidiary of Aedes International, will be called Escalia Capital. The new company will be based in Luxemburg.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
