Brack Capital Real Estate Inv N.V BCRE enters into agreement to sell REIT properties (7630E)

TIDMBCRE

RNS Number : 7630E

Brack Capital Real Estate Inv N.V

22 October 2018

This announcement contains inside information within the meaning of the Market Abuse Regulation (EU) (No 596/2014).

22 October 2018

BCRE - Brack Capital Real Estate Investments N.V.

("BCRE" or the "Company")

BCRE enters into an agreement to sell BCRE REIT properties

Further to the announcement on 6 February 2018 regarding BCRE's strategic plan, the Company is pleased to announce that it has entered into an agreement to sell the multifamily portfolio owned by BCRE REIT in Ohio, US to a third party, for a total price of USD 77.5 million. Price reflects no material profit or loss for BCRE.

The completion of the transaction is expected to take place until the end of the first quarter of 2019 and is subject to standard conditions precedent.

ENQUIRIES:

 
   BCRE - Brack Capital Real Estate Investments 
    N.V. 
   Nansia Koutsou, Co-Chief Executive Officer 
   Shai Shamir, Co-Chief Executive Officer 
   Yiannis Peslikas, Chief Financial Officer         +31 20 514 1004 
 
     Novella Communications 
   Tim Robertson 
   Toby Andrews                                      +44 203 151 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 in the markets it operates.

The Company has established local management team platforms with significant local market expertise. At present, the Company has offices and teams in New York, Moscow, Amsterdam and Limassol.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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October 22, 2018 06:30 ET (10:30 GMT)

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