GTC Re sells Lighthouse Building

The property, located near the center of the capital of the Czech Republic, was sold through GTC Re's Lighthouse Holdings Ltd.

By SHARON WROBEL
October 10, 2007 08:10

 
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Global Trade Center Real Estate NV, a subsidiary of Kardan NV, said it has made a profit of €1.5 million on the sale of its stake in the Lighthouse Building in Prague to German property company Deka Immobilien GmbH. The property, located near the center of the capital of the Czech Republic, was sold through GTC Re's Lighthouse Holdings Ltd. at a value of €76.5m. generating a return on investment of 5.65 percent.

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