Eurocastle Sells Real Estate For ?286 million
(Thomson Reuters ONE) -
EUROCASTLE INVESTMENT LIMITED
FOR IMMEDIATE RELEASE
Contact:
International Administration Group (Guernsey) Limited
Company Administrator
Attn: Mark Woodall
Tel: +44 1481 723450
Eurocastle Sells Real Estate For ?286 million
Guernsey. 13 February 2015 - In line with its strategy to accelerate recoveries
from its legacy real estate assets in Germany, Eurocastle Investment Limited
(Euronext Amsterdam: ECT) today announced that it has agreed to sell three of
its five Retail portfolios, Superstella, Tannenberg and Turret for a gross sales
price of ?286 million to PATRIZIA Immobilien AG. The sale is expected to
generate approximately ?24.4 million of net proceeds to the Company. The
portfolios are comprised of 107 retail properties totaling approximately
229,000 square meters located throughout Germany. The transaction, which is
subject to customary closing conditions, is expected to close before the end of
the first quarter of 2015.
About Eurocastle
Eurocastle Investment Limited is an investment company which primarily owns and
manages German commercial real estate assets. The Company is Euro denominated
and is listed on Euronext Amsterdam under the symbol "ECT." Eurocastle is
managed by an affiliate of Fortress Investment Group LLC, a leading global
investment manager. For more information regarding Eurocastle Investment
Limited and to be added to our email distribution list, please visit
www.eurocastleinv.com.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Eurocastle Investment Limited via GlobeNewswire
[HUG#1894373]
Unternehmensinformation / Kurzprofil:
Datum: 13.02.2015 - 09:00 Uhr
Sprache: Deutsch
News-ID 371500
Anzahl Zeichen: 2279
contact information:
Town:
St Peter Port
Kategorie:
Business News
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