Spanish property company Renta Corporación has sold one building in the centre of Paris to an unnamed Dutch fund. The transaction amount comes to between EUR 25 - 30 mln, Spanish newspaper Cinco Dias reported. The Paris asset provides a total 3,000 m[sup]2[/sup] of office space spread across five storeys and is located on Avenue Haussman in the city centre. The Spanish firm acquired the asset in June 2007.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
