Globes Online - November 29, 2009
Ashtrom Properties Ltd. (TASE:ASPR) and Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) have bought an office complex in downtown Leipzig, Germany from Deutsche Telekom AG (NYSE: DT; XETRA: DTEG) in a buy and lease-back deal for €29 million (about NIS 164 million).
A Deutsche Telekom subsidiary occupies 96% of the 36,500-square meter three-building complex, and stores rent the rest. Annual rent totals €2.38 million a year, giving a return on investment of 8.8%. Deutsche Telekom's lease runs through the end of 2018, and has four five-year options to extend.
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