EUROCASTLE INVESTMENT LIMITED
FOR IMMEDIATE RELEASE
Contact:
International Administration Group (Guernsey) Limited
Company Administrator
Attn: Mark Woodall
Tel: +44 1481 723450
Eurocastle Sells Real Estate For €286 million
Guernsey. 13 February 2015 - In line with its strategy to accelerate recoveries from its legacy real estate assets in Germany, Eurocastle Investment Limited (Euronext Amsterdam: ECT) today announced that it has agreed to sell three of its five Retail portfolios, Superstella, Tannenberg and Turret for a gross sales price of €286 million to PATRIZIA Immobilien AG. The sale is expected to generate approximately €24.4 million of net proceeds to the Company. The portfolios are comprised of 107 retail properties totaling approximately 229,000 square meters located throughout Germany. The transaction, which is subject to customary closing conditions, is expected to close before the end of the first quarter of 2015.
About Eurocastle
Eurocastle Investment Limited is an investment company which primarily owns and manages German commercial real estate assets. The Company is Euro denominated and is listed on Euronext Amsterdam under the symbol "ECT." Eurocastle is managed by an affiliate of Fortress Investment Group LLC, a leading global investment manager. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.
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Source: Eurocastle Investment Limited via Globenewswire
HUG#1894373