Belgian property investment fund Intervest Retail has sold its factory outlet centre in Messancy, Luxembourg for EUR 12 mln. The management of the fund said that it expects the sale will strongly improve Intervest Retail's operating result despite the fact that the sale price was EUR 10.5 mln below the book price published in September 2007. The buyer was a property fund managed by Henderson Global Investors.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
