UK airport operator BAA is currently in talks to sell about half of its offices and warehouses around London's Heathrow airport for about £600 mln (EUR 885 mln). Spanish builder Grupo Ferrovial, which paid $20 bn (EUR 15 bn) for BAA last August, confirmed a report in UK newspaper The Times about its plans. Ferrovial has hired Morgan Stanley to handle the sale of its 50% stake in BAA's Airport Property Partnership.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
