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Gagfah Third-Quarter Loss Narrows to EU3.8 Million

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.

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