Gindi Towers Investments completed its acquisition of an office building in the Swiss city of Morges for NIS 72 million, the company said Sunday.
The investment was made through Capital Swissinvest, in which Gindi has a 66.6% stake, marking its first project in Switzerland, expanding outside of its traditional markets in Israel, Hungary and Romania.
The building, which houses the local education ministry, has five levels covering 6,315 sq.m. of office space and currently collects NIS 5.6m. in gross rentals a year, Gindi said. Last week, Hungarian Internet publication www.portfolio.hu listed Gindi's East European unit GB Europa among the top 10 real estate companies in Hungary.
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