Union Investment has announced the launch of a EUR 250 mln real estate fund focusing on residential properties in Berlin. The 'Residential Value' vehicle has made the first acquisition with the purchase of Ortlergärten in Berlin-Steglitz from an unnamed French listed real estate company.
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.
