TH Real Estate has raised an additional €422 mln for its European Cities Fund from five international investors. The European diversified core, open-ended fund now comprises investors from Germany, Austria, the Netherlands, Italy, Ireland, the US and Australia. To date the fund has raised about €1 bn in equity.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
