Union Investment's move to temporarily suspend redemption of units for its open-ended real estate fund UniImmo has not so far had any followers from other German real estate funds with assets in Japan. The Hamburg-based open-ended fund manager announced the move late last week, citing the nuclear crisis in Japan.
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.
