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Deal for US malls
Source: Agencies |
December 30, 2010, Thursday
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Print Edition
Print Edition
A GROUP of investors led by Israel's Elbit Imaging Ltd yesterday said it will buy seven US malls for US$75 million from Australia's Charter Hall Retail.
The malls, four in Georgia, two in Oregon and one in Florida, have an annual operating income of about US$7 million, Elbit said.
The malls cover 60,400 square meters and have an occupancy rate of 91 percent with tenants, including Publix, Kroger, Albertsons, Safeway, Trader Joe's, Marshalls and Petsmart.
The buyer will be a new fund jointly set up by Elbit; its Dutch subsidiary Plaza Centres NV; Delaware-registered Eastgate Property LLC, which is privately held; and EPN Real Estate Fund LP, a US-based joint venture of the first three.
The malls, four in Georgia, two in Oregon and one in Florida, have an annual operating income of about US$7 million, Elbit said.
The malls cover 60,400 square meters and have an occupancy rate of 91 percent with tenants, including Publix, Kroger, Albertsons, Safeway, Trader Joe's, Marshalls and Petsmart.
The buyer will be a new fund jointly set up by Elbit; its Dutch subsidiary Plaza Centres NV; Delaware-registered Eastgate Property LLC, which is privately held; and EPN Real Estate Fund LP, a US-based joint venture of the first three.
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