German investment manager Commerz Real has acquired a 25% stake in the Elbtower high-rise development by Signa Real Estate in Hamburg's HafenCity for its open-ended real estate fund Hausinvest.
German investment manager Commerz Real has acquired a 25% stake in the Elbtower high-rise development by Signa Real Estate in Hamburg's HafenCity for its open-ended real estate fund Hausinvest.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.