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Morgan Stanley continues to build in $4bn property boom

Morgan Stanley, one of the world's biggest real estate investors, has today agreed a A$4.7bn (€2.9bn) takeover of Australia's Investa Property Group, the second Wall Street firm to make a multi-billion investment in the sector this week.

Investa released a statement this morning revealing Morgan Stanley Real Estate has agreed the A$3.08 per share deal.

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