Portuguese asset manager Imorendimento has completed the acquisition of a retail project near Lisbon from Portuguese company Guedol for a total of EUR 55 mln. The Evora scheme, currently under development, has been acquired by a consortium of Imorendimento, UK Madford Developments and Resolution Property. The 24,800 m[sup]2[/sup] retail development is scheduled for completion in late 2009.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
