Aedes has accepted Cordea Savills' binding offer to purchase 81.7% of Boccaccio, a closed-end real estate fund reserved for institutional investors that specialises in retail properties. The deal is expected to be completed by March 30, 2007, Aedes said in a press release.
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.
