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Showing posts with label amouyal. Show all posts
Showing posts with label amouyal. Show all posts

Tuesday, June 17, 2014

French hotel family buys Sea One tower

Electra Real Estate Ltd. and Oranim Ltd. have closed the sale of the Sea One high-rise project on Tel Aviv's seafront to the French Amouyal family, which operates hotels including the Meridien in Eilat, for NIS 370 million.

They paid the buyer NIS 16 million in compensation for transaction costs, which Electra Real Estate will report in its financial statement. The two companies owned the project on Hayarkon Street in equal shares. Electra Real Estate will report NIS 98 million in cash flow from the sale, NIS 88 million of which it will use to repay the seller's loan it gave the buyer.