German property investor IVG Immobilien said on Friday its development arm, IVG Development, had started the redevelopment of the former Frankfurt headquarters of German trade union federation BGAG. On completion in 2009, the building will offer 2,000 m[sup]2[/sup] of modern, flexible office space. No financial details were disclosed.
Private asset management company Kryalos has completed the acquisition of a light industrial property in Rome, through its Mars fund.
