The company expects predicts €23 million in sales.
Nanette Real Estate Group NV (AIM:NAT; TASE:NANT.B1) has bought a 6,122 sq.m. residential lot in Budapest. This is the company's tenth project in the city.
Nanette plans to build 260 apartments on the site for €18 million and predicts €23 million in sales.
Nanette will finance the initial purchase from equity and is seeking bank finance for the rest. Lehman Brothers has an option to acquire half of the project. Lehman Brother Real Estate Partners II (LEBREP II) is a partner in several of Nanette's projects.
Published by Globes [online], Israel business news - www.globes-online.com - on July 15, 2008
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