Brack Capital Real Estate Inv N.V Interim Management Statement (3458G)
November 19 2015 - 10:30AM
UK Regulatory
TIDMBCRE
RNS Number : 3458G
Brack Capital Real Estate Inv N.V
19 November 2015
BCRE - Brack Capital Real Estate Investments N.V.
("BCRE" or the "Company")
INTERIM MANAGEMENT STATEMENT
The Board of BCRE - Brack Capital Real Estate Investments N.V.
released its Interim Management Statement for the period from 1(st)
July 2015 to 19(th) November 2015 (the "Period").
Trading Update for the Period
-- The Company continued balancing its global portfolio during
the period with new acquisitions and increased interest in the
US.
-- Completed the acquisition of the Upper West Side Property in
Manhattan, New York with a gross internal area of approximately
240,000 sq.ft.
-- Recently opened the 295 room Indigo Lower East Side Hotel at
180 Orchard Street in Manhattan, New York.
-- The shopping centre in Lyubertsy, Moscow, is planned to open
shortly. Despite the challenges presented by the current situation,
the shopping centre is expected to start with good occupancy
levels.
-- As per previous announcements, Midroog, the credit rating
agency accredited by Israel and a subsidiary of Moody's Investors
Service Inc. ("Moody's"), has placed the Company's Series A, B and
C bonds on its Credit review list as a result of the economic
situation in Russia. Recently, Moody's has reaffirmed the credit
rating of A2 on a local Israeli scale, changing the outlook from
Credit review with negative implications to negative outlook.
Enquiries:
BCRE - Brack Capital Real Estate Investments
N.V.
Ariel Podrojski, Chief Executive Officer
Nansia Koutsou, Chief Financial Officer +31 20 514 1004
Novella Communications
Tim Robertson
Ben Heath +44 20 3151 7008
Forward-looking statements
This report contains certain forward-looking statements with
respect to the financial condition, results of operations and
businesses of BCRE - Brack Capital Real Estate Investments N.V.
These statements involve risk and uncertainty because they relate
to events and depend upon circumstances that will occur in the
future. There are a number of factors that could cause actual
results or developments to differ materially from those expressed
or implied by these forward-looking statements.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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