The deal will leave Leser Group as the owner of the remainder of a medical property.
The Leser Group (TASE: TSLR.B1) today closed the sale of the nursing home affiliated with its acquisition of a Brooklyn medical building. The Leser Group owns 82% of Sunset Realty East LLC, which owned the 340,000-square foot medical center together with Sunset Realty NW LLC. Sunset Realty East will sell the 121,000-square foot nursing home to Sunset Realty NW, and will receive all of the remainder of the 219,000-square foot medical facility.
Sunset Realty NW will cease to be a rights holder in the medical building's owner, Sunset Realty LG LLC, leaving Leser's Sunset Realty East as the sole rights holder in that company.
As a result of the deal, the Leser Group's assets will be reduced by $10.3 million and its liabilities will be reduced by $7.5 million. Its shareholders' equity of controlling shareholders will increase by $2.5 million, and the shareholders' equity of minority shareholders will be reduced by $5.3 million, reducing the company's shareholders' equity by $2.8 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 24, 2010
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