Aspen Group Ltd. and S. Shlomo Insurance Company Ltd acquired Stuttgart Property for 34 million from Prime Office REIT-AG.
January 18, 2014 at 11:00 pm EST
Aspen Group Ltd. (TASE:ASGR) and S. Shlomo Insurance Company Ltd acquired Stuttgart Property for 34 million from Prime Office REIT-AG (XTRA:PMO) on January 17, 2014. The property reported rent is 2.5 million. Aspen Group acquired 70% stake and S. Shlomo Insurance acquired 30% stake in the transaction. Aspen and Shlomo Insurance have a letter of commitment from a German bank for a 24 million to finance the purchase and remaining 11.8 million from independent resources.
Aspen Group Ltd. (TASE:ASGR) and S. Shlomo Insurance Company Ltd completed the acquisition of Stuttgart Property from Prime Office REIT-AG (XTRA:PMO) on January 17, 2014.