Congratulations to our client – More Provident Fund, on the successful transaction under which More entered as a partner of Israel Canada into the acquisition of the Acro Group’s share in the central branch building of “Bank Leumi” located on the corner of Yehuda Halevi and Herzl streets in Tel Aviv.
More will hold approx. 18% of the building in exchange for a loan of approx. NIS 80 million.
Today there is a City Building Plan that applies to the building’s lands that allows rights to a 40-story tower with a total area of about 38,000 square meters, which will be designated for commerce, employment, hotels, public buildings and residences.
Atty. Israel Aziel, Head of our Real Estate department, alongside Atty. Yael Mirone Mezamer, Partner in the department, and Atty. Itzchak Avraham of our Banking department represented More in the successful transaction.
