Real Estate Company
Brack N. V
-2.82%
Base:35,510
opening:34,500
Tall:34,830
low:34,150
change:1,867,225
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Operating in Germany’s real estate, it reports revenues of 14.7 million euros, compared to 15.2 million euros in the same period last year.
The company further stated that it continues to examine the possibilities of refocusing its business strategy into the field of income-producing and residential real estate activities, and as such, the company continues to carry out operations for the sale of additional properties from its commercial real estate portfolio.
The FFO stood at 6.2 million euros, similar to the corresponding quarter last year. The company’s cash balance amounted to 23.7 million euros.
During the reporting quarter, the company sold another asset from the company’s commercial real estate portfolio for EUR 16.5 million.
Eran Edelman, CFO of Brack NV: “Looking ahead, the gap between new rentals and the average rent continues to be about 14%, so we expect that we will continue to enjoy the positive trend in rents also in the future.”
Eran Edelman
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