Seligman, the New-York based investment manager, has introduced its second fund that will invest in real estate securities. The Seligman LaSalle Global Real Estate Fund will seek a total return through a combination of current income and long-term capital appreciation by investing in real estate securities of issuers located around the world, the company said.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
