Tishman Speyer, a major US-based real estate company, has purchased a 90% stake in Gerrman property investment and management company Aktiengesellschaft Allgemeine Anlageverwaltung vorm. Seilwolff von 1890 (AAA) from its majority shareholders Gunter Rothenberger. The price for share was set at EUR 2.91 each. Tishman Speyer said it plans to retain AAA's listing on the Frankfurt stock exchange.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
