The two companies sold eight properties for €75.5 million gross.
Electra Real Estate Ltd. (TASE:ELCRE) and Kamor Ltd. (TASE: KMOR) subsidiary Kamor Europe Ltd. have sold eight properties in Berlin that they own in equal shares for €75.5 million gross, and €73.5 million after expenses, to a European investment fund. Kamor owns half of Kamor Europe.
The companies bought nine income-producing properties, eight of them in Berlin, in December 2005 for €41.7 million. The two companies record the ninth property at a value of €9 million each for a total of €18 million. Seven of the properties in Berlin are leased to Deutsche Post, Deutsche Telekom AG, and other tenants.
Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2008
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