IVG Immobilien has announced that it has sold 12 commercial properties with total office space of 50,000 m[sup]2[/sup] to British-based CIT Europe for a total of EUR 85 mln. Ten of the properties are located in Dresden and the others are in Berlin-Schönefeld and Dortmund.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
