SIIC-listed Gecina has reached agreement on the purchase of a 26-hectare plot of land from the development company IMC Promotion in the north of the greater Paris region. The site will house a 90,000m[sup]2[/sup] logistic park developed by CIBEX, Gecina said in a press release. The financial details of the transaction were not disclosed.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
