Vivacon, the SDAX and DAX-listed German residential property company, has sold 489 residential and commercial assets to its WIAG Wohnimmobilien joint venture. The transaction volume amounted to EUR 26mln. Vivacon said its share of the annual ground lease payments on the portfolio, with a total of 31,800 m[sup]2[/sup] of living space, is expected to amount to about EUR 73,000.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
