Fortis Real Estate announced it has begun talks with Société Financière de l'Etoile (SFE) and Société de l'Etoile (SE) to acquire a stake in Belgian real estate group Agridec for around EUR 204 per share. SFE and SE hold 23.6% and 10% respectively of Agridec, a company which invests mainly in commercial property in the Belgian city centres of Arlon, Brussels, Malines, and Verviers.
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.
