Glenstone acquires Eastcastle Properties
On the 16th October the Glenstone Property Group purchased the total share capital of private property company Eastcastle Properties Ltd in a share for share deal for a total consideration of circa £4m.
Eastcastle consists of four property assets valued at circa £1.92m and just over £2m of cash deposits. The shareholders of Eastcastle now become significant shareholders in Glenstone and took advantage of the Glenstone REIT status, the significant income distribution and the long term strategy to grow the business as the only listed family friendly REIT.
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