Eurocastle Sells Wave Portfolio
(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 Wave Portfolio
Guernsey. 24 April 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 its Wave portfolio. The sale is expected to
generate approximately ?30 million of net proceeds to the Company before
expected historic taxes in the range of ?6 million to ?8 million. The portfolio
is comprised of 44 office buildings with a net lettable area of c. 109,000 sqm
spread across 41 cities and towns throughout Germany. The transaction, which is
subject to customary closing conditions, is expected to close before the end of
September 2015.
About Eurocastle
Eurocastle Investment Limited is a closed-ended investment company that owns
Italian loans and real estate related assets, German commercial real estate and
European real estate securities and loans. 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#1914290]
Unternehmensinformation / Kurzprofil:
Datum: 24.04.2015 - 08:02 Uhr
Sprache: Deutsch
News-ID 388325
Anzahl Zeichen: 2320
contact information:
Town:
St Peter Port
Kategorie:
Business News
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