The mid-April crash in shares of Spanish development companies on the Madrid stock exchange has raised speculation about a slowdown in the residential market - and its impact on commercial real estate. Astroc led the decline and saw the value of its share price halve in just two weeks. If the residential market crashes, the commercial market will almost certainly feel some pain.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
