Land Securities Trillium (LST) has purchased a portfolio of 285 properties from postal authority Royal Mail for around £70 mln (EUR 103 mln). A total of 108 leasehold properties are vacant and LST will refurbish them with a view to securing new occupiers. The remaining 177 freehold properties will be leased back by LST to Royal Mail for 15 years, LST said Thursday in a press release.
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.
