Merrill Lynch's Bosphorus Real Estate Fund is planning to invest as much as $1bn in Turkey over the next three years, newspaper The Daily Sabah reported, citing the chairman of Merrill Lynch's local partner Krea. The fund, a joint venture between Merrill Lynch Global Principal Investments and Krea, is considering about 25 real estate investments and is close to an agreement on six transactions, chairman Hakan Kodal told the daily. The two parties have already acquired a mall in the western city of Eskisehir and are mainly targeting other retail properties.
Merrill Lynch's Bosphorus Real Estate Fund is planning to invest as much as $1bn in Turkey over the next three years, newspaper The Daily Sabah reported, citing the chairman of Merrill Lynch's local partner Krea. The fund, a joint venture between Merrill Lynch Global Principal Investments and Krea, is considering about 25 real estate investments and is close to an agreement on six transactions, chairman Hakan Kodal told the daily. The two parties have already acquired a mall in the western city of Eskisehir and are mainly targeting other retail properties.