Cromwell Property's Cromwell European REIT (Cereit) has announced plans to acquire 23 properties across Finland, France, Italy, the Netherlands and Poland for around €384.4 mln, and said it was seeking to raise €224.1 mln in a rights issue to partially fund the deals.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
