Local Shopping REIT, a British property investment company, is offering almost 92 million ordinary shares in an Initial Public Offering (IPO) in London, LSR said in a statement. The offer is being carried out at a price of 174 pence per share. Local Shopping REIT plans to raise as much as £173.2 mln in an IPO to repay debt and fund acquisitions.
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.
