real estate news and archive

London is the beating heart of European luxury. But for how long?

Every so often, the luxury world produces a report that reads less like market data and more like a mirror. Walpole’s State of London Luxury, in partnership with Cadogan, is exactly that, an X-ray of a city that insists, against all rivals, on remaining the gravitational center of European wealth and shopping. While the headline sounds familiar:...

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Business

LVMH to sell El Encanto Hotel in Santa Barbara for 82.2 million dollars

French luxury conglomerate LVMH is selling its sole hotel in the United States, the El Encanto in Santa Barbara, California, to a partnership consisting of Tinder co-founder Justin Mateen, his brother Justine Mateen, and Culver Capital for 82.2 million dollars. The hotel, which consists of 90 rooms, is located in a popular coastal vacation area...

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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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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...

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The unexpected impacts of Covid retail closures on small investors

Since the pandemic started, hundreds of thousands of retail locations have closed; some temporarily, many for good. While this trend has had a visible, almost immediate effect on retailers’ financials and strategies, there is another group of stakeholders who are facing unexpected challenges: Small investors. Commercial real estate has...

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Fashion

Roberto Cavalli to decorate billionaire villas in Saudi Arabia

Roberto Cavalli has another interior design project in the pipeline. After designing the interiors of a villa and an apartment complex in Dubai, the Florence-based company has inked an agreement with Dar-Al Arkan, Saudi Arabia’s largest real estate developer, to decorate a series of high-end custom-built residential villas in Riyadh. Named...