Spanish property company Colonial posted a third-quarter loss of EUR 94 mln mostly due to a sharp devaluation of its property portfolio. The Barcelona-based firm, which earlier this year was partially taken over by banks after some of its shareholders failed to meet payments, said that the value of its real estate portfolio has fallen by EUR 1.12 bn, or almost 15%, since end-2007 to EUR 9.43 bn.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
