Electra buys German properties

The properties include three office buildings in Frankfurt covering 16,000 sq.m. of land, two office buildings in D sseldorf on a 4,650 sq.m. plot, and a Hamburg trade center on 6,500 sq.m.

By AVI KRAWITZ
August 17, 2006 07:51
for sale sign 88

for sale sign 88. (photo credit: )

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Electra Real Estate said Wednesday it purchased a 50 percent stake in six properties in Germany for NIS 294.9m. taking over NIS 25.4m. in loans on the buildings. The properties include three office buildings in Frankfurt covering 16,000 sq.m. of land, two office buildings in D sseldorf on a 4,650 sq.m. plot, and a Hamburg trade center on 6,500 sq.m. In addition, the company said it sold seven properties in Germany a month ago for NIS 1.87 billion, which will yield Electra a profit of NIS 101m.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Hi-tech
July 29, 2018
Opening a business In Israel: What you need to know

By LEO GIOSUÈ