ING Real Estate has seen its net profits tumble following a sharp devaluation of its investment portfolio. ING RE, a unit of listed Dutch financial group ING, is reporting net profit of EUR 1 mln for the first nine months of 2008, down from EUR 362 mln in the same period last year.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
