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CR Capital Real Estate picks up German asset management biz

CR Capital Real Estate AG bought out asset management business KENT Immobilienmanagement GmbH for an undisclosed sum.

In a release, CR Capital CEO Stefan Demske said the acquired business has "excellent development potential" and further widens his company's business model while boosting revenues from its consulting and servicing business.

CR Capital said it expects its 2017 annual results to surpass those of 2016, given its year-to-date operational performance. The company plans to pay out a per-share dividend of €1, subject to approval of its annual financial statements.