The total assets of Eurocastle Investment rose by almost 150% to EUR 5.7 bn over the last twelve months, the company said in its full-year 2006 report. Eurocastle acquired EUR 2.8 bn of German commercial real estate last year, and another EUR 2.2 bn deal in the country was signed at the end of February 2007.
The total assets of Eurocastle Investment rose by almost 150% to EUR 5.7 bn over the last twelve months, the company said in its full-year 2006 report. Eurocastle acquired EUR 2.8 bn of German commercial real estate last year, and another EUR 2.2 bn deal in the country was signed at the end of February 2007.
The Amsterdam-listed company, which invests solely in commercial property in Germany, raised net proceeds of about EUR 1.2 bn of new equity capital over last year. Net asset value rose from EUR 0.3 bn to EUR 1.6 bn, with 186 new leases signed for some 45,600 m2 of space. The Deutsche Bank portfolio occupancy rate rose increased by 7% year-on-year, reaching 81%, while the Dresdner Bank portfolio occupancy rate reached 84%.
Eurocastle Investment is a Guernsey closed-end investment company externally managed by Fortress Investment Group.
