UK-based investment manager Revetas Capital Advisors has confirmed that it has joined forces with Cerberus Capital Management to acquire Project Nemo, a hotel complex with 86,000 m2 of gross leasable area in a prime location in Bucharest, Romania, as revealed by EuroProperty, part of the PropertyEU group.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
