Pierre & Vacances Agrees Alliance With Morgan Stanley

23 January 2015 – Expansión

The French leisure company Pierre & Vacances has signed an agreement with a fund managed by Morgan Stanley Real Estate to acquire 3,000 new holiday rental units in Spain over the next two years. The units will be managed by the travel group, as part of its growth strategy. The fund expects to acquire at least 3,000 real estate assets in Spain in “strategic and highly selective” locations. The assets will be managed by Pierre & Vacances, a specialist in holiday apartment rentals, as it seeks to meet the increased demand from European customers.

Original story: Expansión

Translation: Carmel Drake