Alstria Office-REIT has agreed to acquire two office buildings in inner city locations in Hamburg for a total transaction cost of around EUR 20 mln in an off-market transaction. The Hamburg-based investment company said that the properties offer significant value creation potential, as the vacancy rate of 24% provides scope for active asset management measures.
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.
