Mirland Development swung to a loss of $104 mln (EUR 76 mln) in 2008 from a profit of $70 mln a year earlier, mainly due to currency devaluation and a negative fair value adjustment to its property portfolio. The Russian property developer said Net Asset Value fell 60% in 2008 to $487 mln, from $1.24 bn in 2007.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
