Eurocastle Investment Limited has announced that it has agreed to sell Belfry and Truss, the two remaining retail portfolios within its legacy German real estate business. The sale is expected to generate approximately €2.3m of net proceeds to the company compared to the recently reported adjusted NAV for these portfolios of zero. The portfolios are comprised of 67 assets totaling over 134,000 sqm located throughout Germany. Deals for the majority of the assets sold are expected to close in Q4.
