Immovalor Gestion, a real estate fund management unit of the German Allianz Group, has acquired an office building in Loos-lez-Lille, Northern France, from Avenir et Territoires for roughly EUR 27.5 mln. The Eurasanté office building was acquired for two SCPI investment vehicles, Allianz Pierre and Allianz Pierre Valor.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
