Cofinimmo, the largest real estate investment trust in Belgium, has said its diversified portfolio recorded a drop in fair value of 1.96% in 2008. The valuation decline coupled with changes in the IAS 39 valuation of interest rate hedging instruments led to a net loss of EUR 14.85 mln at end-December 2008, compared to a profit of EUR 142.5 mln a year earlier.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
