A subsidiary of Mishorim sells a shopping center in Florida for NIS 72.5 million

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Which deals in income-producing and entrepreneurial real estate in Israel, the United States and Canada, as well as hotels and resorts in Canada and the United States. Regency Court near the city of Jacksonville, Florida in the United States, for $ 23.1 million (NIS 72.5 million).

The property was purchased in November 2017, and its acquisition cost, including costs invested in the property over the years, amounted to approximately $ 5.9 million (NIS 18.6 million). In September 2021, the property was valued at $ 14.7 million.

If and to the extent that the transaction is completed, after repayment of a loan taken out by the partnership in connection with the property and after costs related to the transaction, the cash flow from the sale of the property will amount to $ 14.3 million. Completion of the transaction is expected during the second quarter of 2022.

Under the agreement, the purchaser will deposit approximately $ 500,000 in trust in favor of the transaction within three days of the date of signing, and $ 500,000 within 3 days from the end of the due diligence period. $ 5 million for a three-year period at an annual interest rate of 4.7%.

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