Department store chain El Corte Ingles has acquired real estate company Ason from the Reyzabal family for EUR 480 mln. The Spanish property group owns the Madrid plot of land where the landmark Windsor office tower stood in the heart of the city before the blaze in February 2005 that forced its total demolition.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
