Malaysian fund Permodalan Nasional Berhad (PNB) has pulled the plug at the last minute on the acquisition of the Woolgate Exchange office property in the City of London. It is not clear why the deal did not go ahead at the negotiated price of about £270 mln (EUR 323 mln), which would have reflected a net initial yield of 5.5%.
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.
