Announced
Financials
Sources
Tags
Acquisition
building
Real Estate Holding and Development
United States
Pending
office building
Domestic
Majority
Single Bidder
Friendly
Private
Synopsis
Innovo Property Group, a real estate investment and operating company, agreed to acquire 452 Fifth Avenue from Property and Building, an Israeli construction company, for $855m. The sale is expected to be completed on April 1, 2022. Property and Building is expected to use the proceeds to boost liquidy and reduce debt as part of a plan to reinvest company dollars in Israel.
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