Pangaea Israel is in also in talks to buy a second property in the city.
controlled by chairman Alfred Akirov, is in negotiations to sell a property on Ahad Ha'am St. in Tel Aviv to Pangaea Israel (TR) Ltd. (TASE:PNIS), controlled by Assaf Tuchmayer and Barak Rosen, and partners.
The 1,900-square meter lot is occupied by two buildings, one of which is slated for preservation and the other for redevelopment. The Urban Building Plan authorizes the lot for residential, commercial, and office use. Rent totals NIS 360,000 per year. Alrov bought the property in 1990 and said that it will report a pretax capital gain of NIS 150 million on the sale.
Thursday, February 21, 2008
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