Harel has 49% share in partnership

Harel in deal to buy US office building

Insurance group's subsidiaries acquire Minneapolis property with Israeli institutional investor, American investor for $277 million

Subsidiaries of Israel's Harel Insurance Investments and Financial Services acquired an office building in Minneapolis along with an Israeli institutional investor and an American investor for $277 million.


Harel's share in the partnership is 49%, the Israeli insurer said in a statement. The Israeli institutional partner will hold 25% and the American investor, who will manage the property, will have 26%.


The 51-storey building in the business center of Minneapolis has 130,000 square meters (1,400,000 square feet) of space for rent, of which 94% is already occupied.


The purchase will be financed through the partners' capital and bank credit extended by a US financial institution.



פרסום ראשון: 04.22.13, 07:51
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