Freitag, 7. September 2007

Eurocastle Sells Berlin Property for 155 Million Euros.

ST PETER PORT, Guernsey, September 21 /PRNewswire/ -- Eurocastle Investment Limited (Frankfurt Stock Exchange: EUI1 and Euronext Amsterdam: ECT) today announced that it has agreed to sell the Kudamm Karree building in Berlin which it acquired earlier this year as part of the Mars portfolio. The property is mixed-use retail and office complex totaling circa 63,000 sqm.

The property is a redevelopment project and was part of Eurocastle's non-core portfolio. The gross sale price is EUR155 million. The transaction will realize a gain (net of all costs) of approximately EUR23 million, or ...

(Read the rest of the article at HighBeam Research)

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