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| Fog Cutter Capital Group Inc. get Real Estate in Barcelona Fog Cutter Capital Group Inc. announced that it has completed the acquisition of a 24 unit apartment building in Barcelona, Spain. The total acquisition and budgeted improvement cost on this transaction is $8.1 million (6.8 million euros). This represents the fourth such investment by the company in the Barcelona real estate market over the last 18 months. The current acquisition brings the total number of units owned by the Company to 58 apartments in four separate properties. The acquisition and improvement costs for these projects total approximately $16.3 million (13.6 million euros). The most recent acquisition is located at the south end of the Bernardi Mantorell development in the Ravel neighborhood of Barcelona. The property faces a five star hotel that is under construction and is adjacent to the Rambla del Ravel. write your comments about the article :: © 2005 Construction News :: home page |