Germany-based Commerzbank is bringing together its real estate operations into one line of business, board member Bernd Knobloch told German business daily Handelsblatt. In February, the real estate investment fund unit CGI will be moved to Commerzbank's commercial real estate unit, which comprises the recently acquired real estate bank Eurohypo and Commerz-Leasing, he said.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
