Brack Capital Properties has invested EUR 212 mln in German residential and commercial real estate in April. Last week the company announced the acquisition of 13 retail properties in Germany for EUR 120 mln. The assets comprise almost 160,000 m[sup]2[/sup] of retail space, of which 94% is leased. Brack Capital said it is negotiating with a financial institution to obtain a EUR 105 mln non-recourse loan to finance the deal.
Brack Capital Properties has invested EUR 212 mln in German residential and commercial real estate in April. Last week the company announced the acquisition of 13 retail properties in Germany for EUR 120 mln. The assets comprise almost 160,000 m2 of retail space, of which 94% is leased. Brack Capital said it is negotiating with a financial institution to obtain a EUR 105 mln non-recourse loan to finance the deal.
The deal followed hard on the heels of the acquisitions of a portfolio of 2,500 apartments in Leipzig for EUR 73 mln. The company has also acquired two commercial buildings in Germany for EUR 19 mln.
Tel Aviv-listed Brack Capital operates through a business registered in the Netherlands and is a major real estate investor in all of the main properly sectors in Germany. In January this year Brack Capital bought eight shopping centres in Germany for just under EUR 84 mln.
