Immochan, the real estate subsidiary of Grupo Auchan, intends to invest EUR 50 mln in Alegro Alfragide shopping centre. The project consists of renovating the Jumbo supermarket, opened in 1988. Completion is due for the end of 2007. The project covers an area of 109,000 m[sup]2[/sup] and includes 1,700 parking spaces.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
