German property lender Aareal Bank and US financial services firm Morgan Stanley have jointly arranged a EUR 210 mln club financing for the Défense Plaza office building in Paris. Aareal Bank acquired the EUR 195 mln senior tranche, initially provided by Morgan Stanley, with a junior lender contributing a further EUR 15 mln to the deal.
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.
