ING Real Estate's closed-ended Dutch flagship funds are to convert to a semi open-ended structure with an infinite lifetime on January 1 next year. The Netherlands-based company said in a statement that the change concerns the ING Dutch Office Fund, ING Dutch Residential Fund and the ING Dutch Retail Fund. In total, the funds have EUR 4.5 bn worth of assets under management for 49 institutional shareholders.
German-listed real estate company Branicks Group has sold a retail property in Bremen city centre to municipal urban developer Brestadt for €37.2 mln.
