AXA Real Estate Investment Managers said on Monday that the AXA Immoresidential real estate fund has converted from a public mutual fund to a German special fund. This is the first ever successful conversion of a German public mutual real estate fund into a Spezialfonds dedicated to institutional investors in Germany.
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.
