AEW Europe and HSBC REIM are vying with Amundi Immobilier, the new EUR 5.2 bn investment management firm created from the merger of CAAM RE and Societe Generale AM, to receive the management mandate for the SCPI investment vehicle, Genepierre. Genepierre has so far been managed by Societe Generale and with around EUR 300 mln of commercial properties, is a major fund in the French real estate market.
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.
