INREV has launched a new reporting standard for Europe’s non-listed institutional real estate funds, the industry association announced Tuesday at the Mipim property fair in Cannes. INREV also said it is developing a model performance and valuation benchmark, possibly paving the way for a unified investment asset class in the future. The market for private real estate funds in Europe is currently worth some €400 bn.
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.
