Hamburg-based Lloyd Fonds has acquired a hotel development in Sylt, northern Germany, for EUR 24.4 mln. The seller, real estate company GBI, will retain a 5.1% interest in the project, which is to provide some 17,000 m[sup]2[/sup] of four/star hotel space.
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.
