UBS Global Asset Management is about to announce the launch of a EUR 1 bn special real estate fund targeting core properties across Europe, an UBS spokesperson confirmed to PropertyEU on Thursday. The vehicle, called UBS (D) European Mega Core Property Fund, has already made its first investment with the purchase of the Isartor City redevelopment project on Munich's Isartorplatz old town square.
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.
