Brack Capital Properties N.V. (TASE:BCNV) signed an agreement to acquire a residential, commercial and office building in Hannover for €7.8 million on March 18, 2016. Brack Capital is conducting negotiations with a German bank to obtain a credit worth about €5.6 million, maturing on December 31, 2019 and the remaining amount will be paid from the its own resources. The building earns rent of about €0.504 million per annum. Completion of the transaction is subject to the fulfillment of the conditions required relating to the transfer of the ownership rights including obtaining all the necessary approvals for the transaction and removal of all the pledges from the property and approvals from the local authorities. The transaction is expected to be completed by May 31, 2016. Tim Robertson, Toby Andrews and Ben Heath of Novella Communication acted as public relations advisor in the transaction. Brack Capital Properties N.V. (TASE:BCNV) completed the acquisition of a residential, commercial and office building in Hannover on July 1, 2016.