Austrian group Immofinanz has announced the sale of the Bauhaus Budweis retail property in Budweis, Czech Republic to the CPI Group, a local investor, for over EUR 17 mln. The transaction is part of the group's strategy to optimise its real estate portfolio, the company said.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
