Israel Discount Bank has bought back half of a property at 16-18 Hashoeva Alley in Tel Aviv from MR Development and Investments Ltd. for NIS 21.7 million.
The bank sold the 2,600-square meter property in 2004 for NIS 14 million.
Discount Bank sold its share in the building because of the real estate crisis at the time under a sell and lease-back deal.
Anglo-Saxon Tel Aviv general manager Amos Glazer, who brokered the deal, said, "It is interesting that the bank sold its share in the property in 2004, and has now bought it back for 50% more than it received."
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