Hamburg-based Alstria Office is planning to sell shares in an initial public offer (IPO) on the Frankfurt stock market before the summer, the company said. Alstria is seeking to expand its portfolio significantly in the upcoming years and said it will invest between EUR 500-750 mln in property over the next three years.
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.
