Ogen Yielding Real Estate Ltd. (TASE:OGEN), controlled by Shaul Eisenberg, went on a shopping spree last week, buying the Ispro office complex in the Kiryat Sapir industrial zone in Netanya from Ispro - The Israel Properties Rental Corp. Ltd. (TASE: IPRO) for NIS 205 million and buying out its partner in the Weizmann Business Park in Rehovot for NIS 70 million.
Ogen owned 65% of the Weizmann Business Park in the Tamar industrial zone adjacent to the railway station, and Aviv & Co. owned 35%. Ogen now fully owns the 14,368-square meter building, which is under construction. According to Ogen's last financial report, the skeleton of 10 floors has been completed.
Ispro is a unit of Nochi Dankber-controlled IDB Holding Corp. Ltd. (TASE:IDBH) held through Property and Building Ltd. (TASE: PTBL).
Eisenberg controls Ogen through Isralom Properties Ltd. (TASE:ILOM) subsidiary Ocif Investments and Development Ltd. (TASE: OCIF). Ogen's share price opened today at NIS 8.36, giving a market cap of NIS 322 million.
Published by Globes [online], Israel business news - www.globes-online.com - on May 23, 2010
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