Real estate firm Nurol buys Hurriyet buildings for US$ 127.8 million

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Nurol Gayrimenkul Yatırım Ortaklığı, a Turkish real estate investment trust, bought Hürriyet Medya Towers, the Istanbul headquarters of Hürriyet Gazetecilik, for $127.5 million, according to a filing to the Istanbul Stock Exchange (İMKB) by Nurol on Jan. 27.

Real estate firm Nurol will pay $127.8 million for Hürriyet buildings.

Nurol will pay for the buildings with an advance payment of $17.5 million and the remainder over 32 months, Nurol said in the filing.

Both parties made public earlier this week that the acquisition talks were continuing.

The deal covers four Hürriyet buildings on 58,609-square-meters of land, the Nurol filing said.

Hürriyet Gazetecilik also owns the Hürriyet Daily News.

28.01.2012
SOURCE: HDN