• MSREF agrees Eu450m portfolio sale

Morgan Stanley Real Estate Funds is reported to have sold a Eu450m portfolio of hotels to Lebanese businessman Toufic Aboukhater, who has previous owned hotels including The Dorchester.

According to Property Week, the deal, which includes Intercontinental hotels in Vienna, Amsterdam, Madrid, Rome, Frankfurt and Budapest, is close to completion. There is thought to be around Eu450m of debt secured against the total portfolio.

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