The income-producing real estate company
Israel Canada
+ 0.85%
Base:802
opening:800
Tall:820
low:788.3
change:2,607,548
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Reports on advanced negotiations for the acquisition of the remaining rights in the “Canada Acro in the City” project, also known as the “Bank Leumi Building” (at the corner of Herzl and Yehuda Halevi streets in Tel Aviv), from Acro Real Estate. Israel Canada, which already owns 50% of the rights in the project, is interested in increasing its holding in the complex to 100%.
According to the report, as part of the deal, Israel Canada will pay NIS 10 million in cash at the time of signing the agreement, and NIS 110 million within 60 days of signing. The company states that it has a loan of NIS 200 million in one of the banks (the company’s announcement did not specify which bank) and therefore it must obtain its approval to carry out the transaction.
According to the plans, which received the approval of the committee for validity about three months ago and in fact the process of approving the master plan has ended, the company plans to build a 40-story tower in the area, with a total area of 38,912 square meters, with 102 units built in 10,775 square meters. R, and alongside them, office and / or hotel and commercial areas of 25,047 square meters will be established, in addition to public areas of 2,370 square meters.
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