Protego Real Estate Investors is seeking to raise EUR 585 mln in equity for its Nordic Retail Fund. When this sum is combined with gearing of up to 65%, the fund will grow to about EUR 1.65 bn. The core plus Euro-denominated fund will invest in a diversified portfolio, primarily shopping centres, but also retail parks and supermarkets in Sweden, Finland, Denmark and Norway.
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.
