The property generates NIS 8.7 million a year in rent, for a return on investment of 7.4%.
Rosebud Medical Ltd. (TASE: ROSB) has bought a 9,000-sq.m. Zurich office building from Alcan Holdings Switzerland AG for 33 million Swiss francs (NIS 118 million). The building is fully leased, mostly to Alcan, in contracts of 2-5 years each, generating NIS 8.7 million a year in rent, for a return on investment of 7.4%.
Rosebud will finance 91% of the purchase with a six-year loan from a Swiss bank at 3.75% fixed interest.
Published by Globes [online], Israel business news - www.globes.co.il - on September 3, 2006
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