Yitzhak Tshuva has sold his 50.79% controlling interest in Delek Real Estate Ltd. to a US equity fund for nothing. The US fund manages real estate properties worth $5 billion, but has no business operations in Israel.Under the non-binding letter of intent, the US fund will provide Delek Real Estate with a NIS 500 million owners' loan, whose terms will be determined, but which will be subordinate to all of Delek Real Estate's bondholders. The US fund will also provide an additional NIS 100 million loan, which will also be subordinate to Delek Real Estate's bondholders.Tshuva will transfer all his bonds, owners' loans and guarantees, amounting to NIS 120 million, to the buyer.Last Thursday, Delek Real Estate announced that it would buy back NIS 20 million of its Series 1 bond, which are not traded on the Tel Aviv Stock Exchange (TASE), which will eliminate the need to make NIS 1.5 million in interest payments.Delek Real Estate's Series 25 bondholders are meeting today in Ramat Gan. The outstanding debt on this bond is NIS 580 million. The principle is due for repayment in monthly installments through the end of 2012, and interest payments are made in March and September.Delek Real Estate wants to postpone the principle payments on the Series 25 bond, giving the bondholders higher interest payments in exchange. The bondholders have already notified the company in writing that they will not accept postponement of the next principle payment. If they reject the postponement, the TASE will suspend trading in the bond on August 22.Delek Real Estate owes its bondholders NIS 1.3 billion altogether.Delek Real Estate's share price rose 9.5% to NIS 0.17, giving a market cap of NIS 61 million, before trading was suspended in the share ahead of the announcement.