Property fund manager Cordea Savills is launching the Pan European Property Fund, with lender Mediobanca acting as sole underwriter. The fund's placing, which will close on March 30, 2007, is aimed exclusively at qualified investors in Italy.
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.
