French REIT Gecina has acquired real estate companies owning a portfolio of six nursing homes from MAPI Invest, a joint venture between WP Carey and CPA 15 funds. The price of the six assets totalling EUR 70.5 mln excluding duties reflects a net yield rate of almost 6.2%. The properties generate EUR 4.6 mln in annualized rental income.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
