Buildings on the land are fully rented.
Aspen Group Ltd. (TASE:ASGR) has sold a 32-dunam (eight-acre) lot in the Upper Nazareth Har Yona industrial zone for NIS 19 million. The lot is occupied by two buildings with 8,450 square meters.
The buildings are fully leased to three companies, generating an annual rent of NIS 108,000, giving a return on investment of 6.8%.
Aspen Group CEO Ilan Gifman said, "The present sale is part of the company's strategy to constantly examine opportunities in the real estate market for both the sale of properties and finding and buying new properties that suit our acquisition policy in Israel and overseas."
Aspen Group owns properties in Israel, Germany, and Switzerland. Its share fell 0.2% today to NIS 3.86, giving a market cap of NIS 147 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 8, 2009
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