Italy's Gruppo Aedes has joined forces with German real estate company IVG Immobilien and GE Real Estate Italia on Petrarca, a new EUR 250 mln closed-ended real estate fund that will specialise in office properties. The fund is for institutional investors and is managed by Aedes BPM Real Estate.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
