Fund manager Invista Real Estate has been appointed by UK insurer Clerical Medical (CleriMed) to establish a pan-European property portfolio. The fund will have a target size of £300 mln (EUR 443 mln) over the coming three to five years. It will invest directly in commercial real estate assets in the main European markets with a core income profile.
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.
