LONDON (Alliance News) - Brack Capital Real Estate Investments NV Tuesday said one of its subsidiaries has conditionally agreed to acquire the 240,000-square-foot Williams Memorial Residence in New York for an undisclosed fee.
Brack Capital did not name the seller of the care home but said it is a not-for-profit organisation.
The firm said the purchase requires the approval of the New York State attorney general, as the seller is a not-for-profit organisation.
The seller has filed a request to the attorney general to approve the purchase and, if given the go-ahead, the two parties will proceeds toward closing the deal.
Brack Capital said at this date there is no certainty that the purchase will be approved or will proceed to completion.
Brack Capital shares were quoted up 3.0% at 23,720.00 pence Tuesday morning.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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