Brack Capital Real Estate Investments Sells New York Hotel Stake

29th Mar 2018 14:58

LONDON (Alliance News) - Brack Capital Real Estate Investments NV said Thursday it has agreed to sell its stake in a hotel on Bowery Street in New York to its partner CitizenM.

Financial details of the deal were not disclosed, but Brack says the price "reflects no material profit or loss" for the company.

Brack expects to close the deal no later than February 2019.

Shares in Brack were untraded at 0.85 pence on Thursday.

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