German residential property company Vivacon has announced the sale of 3,900 apartments worth EUR 180 mln to a Scandinavian investor. Vivacon said the transaction underlined the continuing interest international investors have in the German market despite the current uncertainty in the equity markets caused by the subprime crisis.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
