US-based developer-investor Hines and German investment company Universal-Investment have closed the €600 mln acquisition of a flagship retail asset on Paris' Champs-Elysées from EPI, a French independent investment group owned by the family of French billionaire Christopher Descours.
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.
