Kathy Hochul wants to increase the 'awful' tax credit for her Hollywood donors to $700 million
Mark Wright shares incredible his and her bathroom with Michelle Keegan in million-pound mansion
How to vote for Boys Planet as Mnet reality show premieres
Dances With Wolves actor Nathan Chasing Horse urged wives to shoot cops and take "suicide pills."
Bradley Walsh breaks down in tears and sobs on TV show with son Barney
Michelle Obama Launches Podcast Based on 'The Light We Carry'
Eric Adams' approval rating plummets as crime remains New York's biggest problem
Katie Price looks completely different after a dramatic pink hair transformation
Pandit argues Tottenham's Djed Spence should have stayed at Nottingham Forest
Home/News/Israeli company sells HSBC Building in New York for 855 million USD | WSAU News / Talk 550 AM · 99.9 FM
Israeli company sells HSBC Building in New York for 855 million USD | WSAU News / Talk 550 AM · 99.9 FM
Dais JohnstonDecember 5, 2021
By Steven Scheer
JERUSALEM (Reuters) – Israel's Real Estate and Construction Group said on Sunday it had agreed to sell its HSBC Tower building in midtown Manhattan for $855 million to real estate firm Innovo Property Group. based in New York, recorded a net loss of $45 million.
The Israeli company, which is 63 percent owned by Discount Investments, said it also sold property in Israel for 390 million shekels ($123 million).
Doron Cohen, managing director of both Real Estate and Buildings and Discounts, said management is focused on income-generating properties in Israel and the money they receive from both transactions will allow them to promote this policy.
"We are continuing our policy and looking at the possibility of additional properties in the US and Israel, noting that the HSBC building sale comes despite 'gloomy' predictions for the real estate market," Cohen said. United States commercial real estate.
He cited Tivoli Village, a luxury apartment complex in Las Vegas opening this year, that could be up for sale as part of the company's efforts to increase liquidity and reduce debt.
Together with Koor Industries, Property and Building, purchased the 30-storey HSBC Tower, measuring 80,000 square meters in 2009 for $353 million. In 2011, Property acquired Koor's stake in the tower with an occupancy rate of 99%. HSBC bought the building in the 1990s.
Property and Building said the value of HSBC Towers on their books was $864 million as of September 30. After expenses, it said it would record a net loss of $45 million from the sale.
The sale is slated for completion on April 1, 2022 subject to Innovo's rights to advance the date while also receiving options to defer completion twice, 30 days each.
The property said that after the sale, it will have a net cash flow of $343 million.
Its shares were 0.7% lower in afternoon trading in Tel Aviv.
(1 dollar = 3,1605 shekels)
(Reporting by Steven Scheer; Editing by Elaine Hardcastle)
https://wsau.com/2021/12/05/israeli-firm-to-sell-hsbc-tower-in-new-york-for-855-million/ Israeli company sells HSBC Building in New York for 855 million USD | WSAU News / Talk 550 AM · 99.9 FM
Dais Johnston
USTimeToday is an automatic aggregator of the all world's media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@ustimetoday.com. The content will be deleted within 24 hours.
Troy Weaver's vision for the Detroit Pistons is taking shape
Dog in pain to buy a gerbil - your pet question answered
Spain's La Palma elevator lockdown imposed after volcanoes degraded air quality
Kim Potter Trial News: Jury resumes deliberations after expressing concerns about Daunte Wright verdict
A tree trimmer died after coming in contact with a power line in Champion Forest, the Harris County Fire Marshal said
Daylight Saving Time is coming to an end – now what?
Find the latest U.S. news on USTimeToday.com. Read breaking headlines covering politics, economics, pop culture, and more.
Contact us: admin@ustimetoday.com
Austin Christmas Coronavirus covid-19 denver news report Denver Weather entertain fox31 home page kdvr Music OMICRON pop music sports take a shot TV Weather weather forecast
Fans of the red-faced tattoo after inking the Virgin Mary looked rather rude thanks to the shape of the cape
Kanye West says he's going on a 'verbal fast': he won't speak, drink or have sex for 30 days
Anne Heche burned to death after falling into a Los Angeles home
Ustimetoday.com© Copyright 2023, All Rights Reserved