Brack Capital Properties N.V. (TASE:BCNV) entered into an agreement to acquire 173 residential units in Dortmund, Germany for €8.2 million on July 8, 2016. Brack Capital Properties is in negotiations with German bank for obtaining financing in the amount of €5.6 million and remaining balance will be paid from the own sources. The property assets in acquisition had gross rental income of €0.63 million in 2015. The acquisition is subject to obtaining approval from local authorities, removal of all the pledges from the property and statutory approvals. The acquisition is expected to close on October 1, 2016. Tim Robertson and Toby Andrews of Novella Communications acted as public relations officers to Brack Capital.