Acquisition Update on Manhattan Property

BCRE - Brack Capital Real Estate Investments N.V.

("BCRE" or the "Company")

Progress regarding Upper West Side, Manhattan, New York acquisition

Following previous announcements, the Company would like to further update that it has been informed by the seller that a settlement agreement has been reached between the seller and representatives of the tenants. According to the seller, this agreement has been signed by a vast majority of the tenants.

The transaction is still subject to the approval by the State Court. Following the above developments, the seller estimates that there is a high probability the State Court will approve the transaction. The Company will make a further announcement once such approval is obtained.

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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.