Morgan Stanley Real Estate Funds (MSREF) is set to acquire an office portfolio in Hamburg, Germany, from German property investor Dieter Becken for EUR 670 mln, FT Deutschland has reported. The paper said on Wednesday US investment bank Morgan Stanley 'may be buying' the Berliner Bogen and Deichtorcenter office complex in central Hamburg, but did not disclose the source of its information.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
