Pramerica Real Estate Investors has formed a EUR 120 mln joint venture to invest in apartment blocks in Berlin, the largest residential market in Germany. The Luxembourg-based joint venture, Preco Kauri CAB, has already acquired 13 residential buildings for EUR 24 mln. The assets comprise 325 residential units over 22,000 m[sup]2[/sup].
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.
