Pan-European real estate investment manager AEW Europe has raised a further EUR 176 mln from institutional investors for its French core retail fund, Fondis. With leverage, the capital raise will provide the fund with a further EUR 320 mln of buying power.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
