Brack Capital Real Estate Inv N.V New CEO of BCRE USA (7031O)

TIDMBCRE

RNS Number : 7031O

Brack Capital Real Estate Inv N.V

10 February 2016

BCRE - Brack Capital Real Estate Investments N.V.

("BCRE" or the "Company")

New CEO of BCRE USA

Following 16 years with BCRE USA, the last six as CEO, Mr. Issac Hera has made a personal decision to step down as CEO of BCRE USA and pursue other opportunities. Mr. Hera will continue to work with BCRE USA in an advisory capacity and will remain a shareholder.

During his 16-year career with BCRE USA, Mr. Hera served in various capacities including CFO and, most recently since 2010 as CEO. Last year, Mr. Hera led the acquisition efforts of the group's two successful Manhattan projects: 90 Morton and 720 West End Ave.

The BCRE Group thanks Mr. Hera for his valuable and important contribution over the years and wishes him the best of luck on his new path.

Mr. Shai Shamir, Managing Director of BCRE USA, will assume the position of CEO of BCRE USA effective immediately.

Mr. Shamir joined BCRE USA in 2003 and has since been part of the executive team working closely with Mr. Hera on all aspects of BCRE USA business, including corporate administration, business development, acquisitions, asset management, construction and development. Mr. Shamir personally led the development of the various BCRE USA hotels including the James New York and the recent opening of the 295 room hotel Indigo Lower East Side. He holds an M.S. degree in Real Estate from Columbia University and a B.A. in Economics. He is an Adjunct Professor at NYU and Columbia University.

ENQUIRIES:

 
 BCRE - Brack Capital Real Estate 
  Investments N.V. 
 Ariel Podrojski, Chief Executive 
  Officer 
 Nansia Koutsou, Chief Financial      +31 20 514 
  Officer                                   1004 
 
 Novella Communications 
 Tim Robertson 
                                     +44 203 151 
 Ben Heath                                  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.

This information is provided by RNS

The company news service from the London Stock Exchange

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