Africa Israel's European division has agreed to purchase 70% of four German companies with assets valued at EUR 97 mln. The companies' portfolio comprises 35 real estate assets for residential and commercial use in Berlin and in the Dusseldorf region. The total annual rent comes to EUR 7.8 mln.

Africa Israel's European division has agreed to purchase 70% of four German companies with assets valued at EUR 97 mln. The companies' portfolio comprises 35 real estate assets for residential and commercial use in Berlin and in the Dusseldorf region. The total annual rent comes to EUR 7.8 mln.

Avi Nota, manager of the European division of Africa Israel, said that this deal was the spearhead of Africa Israel's operations in the European real-estate market. 'The company will continue to appraise additional business opportunities all over the country and expand its activities in Germany,' said Nota. Erez Meltzer, Africa Israel's ceo, added that Africa Israel's entry into Germany was in accordance with the company's strategy to strengthen its asset portfolio in the European continent.