Germany-based SEB ImmoInvest has signed a preliminary contract for the purchase of the factory outlet development Airport Praha through its open-ended real estate fund for EUR 93 mln. Factory outlet centres are a virtually new concept for Czech consumers, the company said in a statement. Once completed, Airport Praha will be the second factory outlet in the Czech Republic.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
