Valad, the European multi-let real estate investment manager, has completed a EUR 1.1 bn (£950 million) refinancing of DUKE, its real estate joint venture with Lloyds Banking Group. This extends the term of the debt facilities to December 2016.
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.
