The company bought half of the Margalit Hasharon Mall for NIS 74 million.
Azrieli Group has acquired 50% of the Margalit Hasharon Mall from Angel and Isaacson Ltd. for NIS 74 million, and now fully owns the property.
Located south of Hod Hasharon, on the main Ramatayim artery, Margalit Hasharon Mall has 7,000 square meters of retail space. The two-storey mall has 70 stores and 600 parking spaces. It is anchored by Shufersal Ltd. (TASE:SAE;Pink Sheets:SSLTF), Super Pharm Ltd., an Aroma cafe, and cinemas.
Azrieli Group president Menachem Keinan said, "Closing the acquisition of the mall in these times demonstrates the company's soundness and stability. We'll pursue our business development strategy in order to locate new business opportunities precisely because of these times."
Published by Globes [online], Israel business news - www.globes-online.com - on October 23, 2008
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