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28 May 2012

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French FdR buys MSREF stake in E59m office JV

Foncière des Régions, one of the largest French REIT/SIICs, has bought out Morgan Stanley Real Estate Fund's 75% stake in the two companies' joint venture that holds a 115,000 sq.m. office portfolio mostly rented by IBM. The portfolio is valued at E59m. (See upcoming PIE Editions for full story)

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