The Matrix Group is planning to list its £300 mln European portfolio on the London stock exchange in May 2007. The Guernsey-registered open-ended fund aims to raise about £150 mln by selling shares prior to the listing. Its investment unit Matrix European Real Estate Investment Trust (MEREIT) is expected to have a market cap of £230 mln.
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.
