German listed property company DIC Asset has acquired the 50% stake in three joint ventures previously held by funds advised by Morgan Stanley Real Estate Investing. The deal makes DIC Asset the sole owner of a portfolio with a market value of some EUR 190 mln consisting of around 20 office properties in Berlin and Frankfurt.
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.
