Summit Real Estate and Other Israeli Real Estate

Summit Real Estate Holdings Ltd completed last week the acquisition of a portfolio of 25 buildings in 12 locations. Summit is a publicly traded entity on the Tel Aviv Stock Exchange. Summit’s portfolio consists of floor space of approximately 170,000 sqm., generating an average annual net income, after maintenance costs, of approximately EUR 14 million.

Many Israelis are purchasing real estate worldwide, from Ron Hershco to Clalit Real Estate.

The properties purchased by Summit were sold several years ago by Deutsche Telekom as part of a sale-and-leaseback transaction known as the Magenta portfolio and the Millenium portfolio and were purchased by Summit in three separate deals from German and European institutions. The properties are located in cities such as Berlin, Frankurt, Magdeburg, Dusseldorf, Nurenberg, Essen, Manheim and others.

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