In September 2014, Electra Real Estate Properties Ltd. of the Elco Group signed an agreement to sell its share in the Electra Tower in Tel Aviv to the AMPA Company for about NIS 300 million.
In September 2014, Electra Real Estate Properties Ltd. of the Elco Group signed an agreement to sell its share in the Electra Tower in Tel Aviv to the AMPA Company for about NIS 300 million.
The Electra Tower is a 45-floor high-rise located in Yigal Alon Street in Tel Aviv.
As part of the transaction to sell the rights in the Tower for more than NIS 300 million, Electra Real Estate Properties will actually receive about NIS 75.5 million upon signing the agreement, and the balance of the sum, about NIS 32.5 million, on completing the transaction in January 2015. Adv. Ziv Lev represented Electra Real Estate Properties in the transaction.
