Legal & General has become the latest European insurer to step in the property lending business in an attempt to fill the debt gap left by retreating banks. The Financial Times has reported that the UK's fourth largest insurer has appointed Ashley Goldblatt, who has worked in the company's fixed income team, to prepare a strategy to invest into debt in the UK commercial property market.
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.
