Innovo Property Group to acquire 452 Fifth Avenue from Property and Building for $855m.

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.