JECarranges financing

The Jerusalem Economic Corporation said Sunday it completed a €40.1 million financing arrangement with a foreign bank to finance the purchase of 15 real estate properties in Germany.

The Jerusalem Economic Corporation said Sunday it completed a €40.1 million financing arrangement with a foreign bank to finance the purchase of 15 real estate properties in Germany. The properties were valued at €47.2m. for the purposes of the deal, and include commercial and residential space. The financing offer is a seven-year loan, with interest rates based on the Euribor plus 1.05% annually.