UBS Asset Management's (UBS-AM) real estate & private markets (REPM) business has completed the acquisition of the Travelodge hotel in Edinburgh, Scotland, for £9.4 mln (€10 mln), reflecting a net initial yield of circa 5.25%.
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
