real estate news and archive

Kering closes sale of majority stake in prime Parisian real estate assets to Ardian

Luxury group Kering (Gucci, Saint Laurent, Bottega Veneta, Balenciaga) and investment firm Ardian have closed their investment transaction regarding a portfolio of three prime real estate assets in Paris according to an announcement on Thursday. The terms are in line with the news released on 15th January, namely a sale of 837 million euros...

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Business

Valesco buys majority stake in Moncler’s headquarters in Milan

European real estate fund manager The Valesco Group, a portfolio company of New World Group, has acquired a majority stake in a 200-million-euro state-of-the-art office building being developed by Covivio SA, which will serve as the global headquarters for luxury fashion brand Moncler in Milan. Located in Milan's Symbiosis district, the 409,000...

Retail

Chanel joins luxury retail battle for Manhattan's Fifth Avenue

The race to acquire luxury real estate is getting hotter as Chanel and Louis Vuitton are bidding for the same building in Manhattan’s prestigious Fifth Avenue retail area. As top-tier luxury brands vie for their space in the world’s most iconic shopping corridors, the building at 745 Fifth Ave and 58th Street is a most prestige location and...