German bank Eurohypo plans to launch a EUR 550 mln German commercial mortgage-backed securities transaction under an European Opera programme. The loan is backed by a portfolio of 36 office properties let to the federal state of Hesse on a 30-year lease. The transaction is the 15th of the Opera CMBS programme and takes total issuance to EUR 8.7 bn.
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.
