The 12,000-square meter Dizengoff Center is one of Israel's landmark properties.
REIT 1 Ltd. (TASE:RIT1) has bought half Tel Aviv's Dizengoff Center for NIS 145 million from Edri El Israel Assets Ltd.
The 12,000-square meter Dizengoff Center is one of Israel's landmark properties. The mall's stores includes leading brands. It is 96% occupied and has an annual net operating income (NOI) of NIS 23 million.
Edri El is also selling the 14,500-square meter Shmona Center in Kiryat Shmona to REIT 1 for NIS 27 million. It is 92% occupied and has an annual NOI of NIS 8.5 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 28, 2013
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