Eurocastle Investment is to sell its entire holding of Real Estate Fund Units (FIP) in Italy for EUR 169 mln. The transaction, which is expected to close before the end of the month, will generate a net gain of approximately EUR 15.7 mln. The sale is in line with Eurocastle's strategy to sell non-core assets and the company has said that it will use the net proceeds to repay debt.
Eurocastle Investment is to sell its entire holding of Real Estate Fund Units (FIP) in Italy for EUR 169 mln. The transaction, which is expected to close before the end of the month, will generate a net gain of approximately EUR 15.7 mln. The sale is in line with Eurocastle's strategy to sell non-core assets and the company has said that it will use the net proceeds to repay debt.
Eurocastle Investment is a euro denominated, closed-ended investment company which primarily owns and manages German commercial real estate assets. The company is externally managed by Fortress Investment Group, a global alternative asset management firm, and is traded on Euronext in Amsterdam.
