Cash-strapped real estate group Immofinanz plans to swap EUR 1.5 bn worth of convertible bonds into new convertibles at a lower face value to avoid insolvency. The group, which in February launched a restructuring of its business to boost its liquidity, is offering holders of five outstanding convertibles new bonds worth EUR 600 mln.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
