The Government of Singapore Investment Corporation (GIC) has acquired a 13.6% stake in the Cloe closed-end real estate fund managed by Prelios at a 20% discount to the fund's net asset value.
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.
