German property investor Union Investment Real Estate said it had acquired the Centro Commerciale Carrefour shopping centre in the Italian city of Pavia from French food retailer Carrefour for EUR 74 mln. The German firm plans to add the shopping centre, its first in Italy, to its open-ended real estate fund UniImmo: Europa.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
