Leader Real Estate has announced it has signed a contract for the of properties in Germany for EUR 133 mln. The subsidiary of Israeli's Leader Holdings and Investments said the transaction was carried out in cooperation with its partners but it gave no details of the buildings, except to say they had been bought during the year for EUR 110 mln.
Leader Real Estate has announced it has signed a contract for the of properties in Germany for EUR 133 mln. The subsidiary of Israeli's Leader Holdings and Investments said the transaction was carried out in cooperation with its partners but it gave no details of the buildings, except to say they had been bought during the year for EUR 110 mln.
Leader Real Estate owns 47.5% of the venture and its share of the profit is EUR 13 mln, the online edition of Israel's business daily Globes reported. Leader Real Estate said it expects to forecast a pre-tax capital gain if NIS 44 million (EUR 7.8 mln) for the sale. The company was founded at the beginning of 2006 and its investments include the Berlin Post Office, a 650-unit rental apartment complex in Germany, as well as hotels and commercial properties in Croatia. Chairman Yair Schrem told Globes the company is seeking further low-risk, high-yield properties and developments in Europe.
Leader Holdings & Investments is a member of the SKF Group. Since it was founded in 1991 it has underwritten 130 public offerings and raised over NIS 8.5 bn (EUR 1.5 bn).
