Scottish Widows Investment Partnership and Cushman & Wakefield Investors have announced the first close of their Pan-European Urban Retail fund (PURetail) with EUR 100 mln in equity committed by three European institutional investors.
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.
