Bloomberg News

Gagfah Third-Quarter Loss Narrows to EU3.8 Million

November 07, 2011

(Adds leasing income in second paragraph.)

Nov. 7 (Bloomberg) -- Gagfah SA’s loss before taxes narrowed to 3.8 million euros ($5 million) in the third quarter, from 17.4 million euros a year earlier, the company said in a statement today.

Germany’s largest publicly traded property company posted income from leasing of investment property of 225.4 million euros, 5.1 percent less than a year ago.

Gagfah, controlled by Fortress Investment Group LLC, announced a plan in September to sell about 4,800 apartments valued at 330 million euros to GSW Immobilien AG.

--Editors: Ben Livesey, John Simpson

To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net


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