Electra Real Estate Ltd. (TASE:ELCRE) signed an agreement to sell 33% stake in Kodak building located in Petah Tikva for approximately ILS 100 million on December 15, 2014. Under the transaction, proceeds of the sale amounts to ILS 102.6 million plus value added tax, of which about ILS 45 million will be transferred by the buyer to the bank for repayment of Electra Real Estate's share of the loan made to finance the property and transaction expenses. The balance of the consideration will be paid upon closing to Electra Real Estate. The transaction is subject to fulfillment of certain conditions. The transaction is expected to close at the beginning of the first quarter of 2015.

Electra Real Estate Ltd. (TASE:ELCRE) completed the sale of 33% stake in Kodak building located in Petah Tikva in January, 2015.