Shares in German commercial property group IVG have continued to slide over the summer, plummeting more than 50% in July and August alone and hitting a historic low of EUR 2.45 per share on August 31. On Friday 2 September, the share closed at EUR 2.58. Back in May, IVG's stock was trading roughly at par with net asset value of EUR 6.
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.
