Patron Capital, the pan-European institutional investor focused on property-backed investments, together with Bluestone, the Milan-based real estate developer and Freo Group, has acquired a development site in the south east of Milan, with plans to deliver an 18,000 m2 complex of 200 apartments.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
