UK development and fund management group Kenmore has announced the acquisition of the Kraaggebouwen portfolio of eight office buildings in Amsterdam from the property arm of Belgian-Dutch bank Fortis for EUR 36 mln. The transaction reflects a net initial yield of 7%. The assets are earmarked for Kenmore Europe, a joint venture with Halifax Bank of Scotland and Revcap.
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.
