Brack Capital Real Estate Inv N.V Subsidiary enters into acquisition agreement (9496S)

TIDMBCRE

RNS Number : 9496S

Brack Capital Real Estate Inv N.V

22 March 2016

BCRE - Brack Capital Real Estate Investments N.V.

("BCRE" or the "Company")

Subsidiary enters into a notarized acquisition agreement

The Company is pleased to announce that the Company's subsidiary Brack Capital Properties N.V. ("BCRE Germany"), whose shares are traded on the Tel Aviv Stock Exchange ("TASE"), announced that it has entered into a notarized acquisition agreement with a third party (not related to BCRE Germany or its controlling shareholders) to acquire 31 residential units and 5 office units in Hannover, Germany for a total consideration of EUR 7.8 million.

Completion of the transaction is subject to the fulfillment of the conditions required relating to the transfer of the ownership rights including obtaining all the necessary approvals for the transaction and the removal of all the pledges from the property.

For ease of reference, the uncertified English translation of the announcement together with the original announcement which was published on the TASE in Hebrew, is available on the Company's website www.brack-capital.com.

ENQUIRIES:

 
 BCRE - Brack Capital Real Estate 
  Investments N.V. 
 Ariel Podrojski, Chief Executive 
  Officer 
 Nansia Koutsou, Chief Financial        +31 20 514 
  Officer / Chief Operating 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

END

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March 22, 2016 13:00 ET (17:00 GMT)

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