Source - SMW
Brack Capital Real Estate Investments' net asset value fell to €204.6 million in the six months to the end of  June -down from €240.7 million at 31 December. It said this  mainly reflected the current economic situation in Russia. 

  The group generated revenues of €40.5 million from rental income during the period (30 June 2015: €37.4 million).

Other highlights:

-     The aggregate value of assets in which the company is interested (in different percentages) at 30 June was approximately €2.1 billion (31 December 2015: €2.1 billion).

-     Following the last year's acquisition of 720 West End Avenue, a major residential building in the Upper West Side of Manhattan, the programme of the replacement site on 125th Street, Manhattan is progressing well.

-     At 90 Morton Street, a major development in the West Village, Manhattan, the condo offering plan for the project has been approved by the New York City attorney general.

-    Following the successful launch of the Indigo Lower East Side hotel in Manhattan, the 295 room hotel, operated by InterContinental Hotel Group, is ramping up well with a monthly net operating income  exceeding $1 million in May and June 2016.

-    Completed the setting-up of a private real estate investment trust ("REIT"), to carry out our multifamily business in the USA, currently managing over 500 units in Cincinnati, Ohio.

-     BCRE Germany continued to expand its income producing portfolio, with new deals exceeding €80 million in value and approximately 70,000 sq m of lettable area in Kiel, Nordrhein Westfalen and Hannover.

-     BCRE Germany issued 60,058 additional bonds during the period, at a price of NIS1,021 each; total gross proceeds amounted to NIS61.3 million.

- Completed the sale of Fountain Court in Manchester UK at a significant upside to its acquisition cost.

-     Raised $29.6 million during the period within the extended bonds programme.

-     Under the share buyback programme initiated in June 2016, the Company repurchased during the period approximately 1.32 million shares for a total consideration of €1.17 million and approximately 0.04 million shares for a total consideration of €0.04 million in July 2016. 

At 8:08am: (LON:BCRE) Brack Capital Real Estate Investments N.V.  share price was 0p at 1.13p

Related Charts

Brack Capital Real Estate Investments N.V. (BCRE)

-0.09p (-8.04%)
delayed 14:10PM