French property giant Nexity saw its revenue fall by 7% to EUR 566 mln in the first quarter of 2009 compared with the year-earlier period. The revenue decline (22%) for the Residential division was driven by the lower level of reservations in 2008. Revenue for the Commercial division was twice that of the first quarter of 2008 (EUR 124 mln), due to progress made on major construction projects.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
