Amsterdam's municipal authorities and three Dutch property companies have signed a deal to develop a new entertainment centre in the south-east of the city for approximately EUR 250 mln. Work on the GETZ centre is due to start in the first half of 2008. The name GEZT comes from the Dutch words for health, entertainment, theatre and business.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
