FAP Group, the Berlin-based advisory company, has said investor demand led to the alteration of FAP Balanced Real Estate Financing I (FAP BREF I) from a closed-end into an open-end vehicle with unlimited duration.
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.
