Deka Immobilien has bought an office development in Hamburg on behalf of its open-ended WestInvest ImmoValue fund which focuses exclusively on institutional investors. Financial details were not disclosed. The vendor is HBH Buro GmbH & Co KG, a subsidiary of Deutsche Immobilien and Aug. Prien Immobilien.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
