Reit Asset Management emerged as the winner of the auction for Evan's Property Group's 275-building UK portfolio. Reit, run by tycoon Leo Noe, beat major US and UK investors in the bidding for the £425 mln (EUR 627 mln) portfolio put up for sale earlier this year, Bloomberg reported.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
