UBS Asset Management’s Real Estate & Private Markets (REPM) arm said its Multi-Managers Real Estate (MM-RE) business has been awarded a €225 mln mandate by a major German institutional client to invest in unlisted property funds in developed real estate markets worldwide.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
