Bondholders of a CMBS vehicle secured against a Karstadt department store portfolio have given approval for a major debt restructuring, giving some breathing room to the landlords after the German retailer filed for insolvency in June last year.
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.
