Alony Hetz buys properties in Sweden

The company has acquired Swedish real estate developer Valplatsen 2 AB and two commercial centers in a town in the south of the country.

Sources inform ''Globes'' that Alony Hetz Property and Investments Ltd. (TASE: ALHE) has acquired Swedish real estate developer Forvaltningsbolaget Valplatsen 2 AB for NIS 27.5 million, through Medipower Sweden AB, the subsidiary it jointly owns with Medipower (Overseas) Public Co. Ltd. (TASE:MDPR).

Medipower Sweden also acquired two mid-size commercial centers with 17,500 square meters of space on either side of the E4 highway in the southern city of Jonkoping, for NIS 55 million. Jonkoping is the fourth largest city in Sweden with 83,423 residents. The acquisition, which has been financed by a loan bearing 5.5% interest from a local bank, reflects an annual net return of 8.25%.

The buildings are fully leased to 19 tenants, and generate annual rent of 10 million krona, (NIS 5.5 million).

Published by Globes [online], Israel business news - - on May 19, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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