SEB Asset Management has completed the acquisition of an office property in Dusseldorf-Rath for its SEB ImmoPortfolio Target Return fund. In a statement, the company said that the purchase agreement for the building in the Theodorpark area was signed in January 2008. The total investment amounts to close to EUR 22 mln. The seller is Munich-based Dibag Industriebau.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
