LONDON (Alliance News) - Brack Capital Real Estate Investments NV on Monday said its subsidiary is buying 173 residential units in Dortmund, north west Germany, for EUR8.2 million.
Brack Capital said the notarised acquisition agreement is between its subsidiary Brack Capital Properties NV and an unnamed third party, adding that this third party is not related to its subsidiary or the controlling shareholders.
Completion of the transaction is subject to the fulfillment of the conditions required relating to the transfer of the ownership rights including obtaining all the necessary approvals for the transaction, and the removal of all the pledges from the property, Brack Capital added.
Shares in Brack Capital were untraded on Monday, having last traded at EUR1.10.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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