Gagfah: €500mn for acquisitions
Gagfah SA, the residential company belonging to the financial investor Fortress, substantially increased its Q2 results and is confidently optimistic for the entire year. As Fortress Europe head Robert Kauffman informed, Gagfah considers the chances for additional acquisitions to be good: Resources of around €500mn were said to be available. The manager did not, however, divulge a concrete goal for the volume. Since the IPO in October 2006, the firm, headquartered in Luxemburg, has acquired around 30,000 residences in 20 transactions for €1.6bn and maintains a portfolio of around 170,000 units.