Profit buys Zurich building

Profit Building Industries, a leading real estate development company, is expanding its business in Switzerland with the acquisition of an office building in a deal worth NIS 28.4 million.

By SHARON WROBEL
April 5, 2007 06:53

 
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Profit Building Industries, a leading real estate development company, is expanding its business in Switzerland with the acquisition of an office building in a deal worth NIS 28.4 million. The office building, which is located in Zurich with total space of 3,950 square meters, is being rented out at full capacity until 2011 with an option of the tenants to extend rental contracts until 2016. Annual rental revenue will generate NIS 2m, which represents a 7 percent yield on investment.

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