Warburg-Henderson has set up a new European fund, European Core Property Fund No. 1, with a target size of EUR 1 bn. The fund made its first acquisition in Hamburg on Wednesday when it bought a mixed-use office and commercial asset in the town centre. The property is rented to the German company Framode, German newspaper Immobilien Zeitung reported.
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.
