Aspen Real Estate has bought the Hod Hagivaton Mall in Nahariya for NIS 22 million.
Aspen Real Estate Ltd. (TASE:ASRE) has bought the 2,000-square meter two-floor Hod Hagivaton shopping center in Nahariya for NIS 22 million. The shopping center is 100% occupied and anchored by Bank Yahav for Government Employees Ltd. and Meuhedet Health Services, which account for 68% of the rental space.
The Hod Hagivaton shopping center generates NIS 2 million in annual rent, amounting to a return on investment of 9%. The property was renovated in 2007.
Aspen Real Estate is a subsidiary of Aspen Building And Development Ltd. (TASE:ASBD), controlled by Rony Zarom.
Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2008
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