17 Mar 2016 17:30
BCRE - Brack Capital Real Estate Investments N.V.
("BCRE" or the "Company")
Subsidiary announces entry into a notarized acquisition agreement
The Company is pleased to announce that the Company's subsidiary Brack Capital Properties N.V. ("BCRE Germany"), whose shares are traded on the Tel Aviv Stock Exchange ("TASE"), announced that it has entered into a notarized acquisition agreement with a third party (not related to BCRE Germany or its controlling shareholders), to acquire 287 residential units in Kiel, Germany for a total consideration of EUR 36 million.
Closing of the deal is subject to the fulfillment of the conditions required 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.
For ease of reference, the uncertified English translation of the announcement together with the original announcement which was published on the TASE in Hebrew, is available on the Company's website www.brack-capital.com.
ENQUIRIES:
BCRE - Brack Capital Real Estate Investments N.V. |
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Ariel Podrojski, Chief Executive Officer |
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Nansia Koutsou, Chief Financial Officer / Chief Operating Officer | +31 20 514 1004 |
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Novella Communications |
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Tim Robertson |
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Ben Heath | +44 203 151 7008 |
About BCRE
BCRE is an international real estate development and investment group, headquartered in the Netherlands and listed on the London Stock Exchange. Through its subsidiary and associated undertakings, the Company is interested in, develops and operates an international portfolio of real estate assets, predominantly located in the USA, Germany, Russia, India and the UK.
The Company has established local management team platforms with significant local market expertise in the US, Germany, Russia, India and the UK with exclusive access to over 400 staff. At present, the Company has offices and teams in New York, London, Frankfurt, Düsseldorf, Moscow, Kazan, New Delhi, Amsterdam, Limassol and Budapest.