German property investment fund KanAm grundinvest Fonds has acquired the Espace Petrusse development located in the central business district of the City of Luxembourg for EUR 109 mln. Once completed, the development will be the future headquarter of the world's largest steel company Arcelor Mittal on a 10-year leasing contract.
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.
