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Elbit Plaza in US real estate joint venture

By BFN News | 02:48 PM | Tuesday 09 February, 2010

Elbit Plaza USA has entered into a framework and co-investment agreement with Eastgate Property to take advantage of opportunities in the US, primarily in the retail sector. Elbit Plaza USA and Eastgate have jointly committed to invest a total of $200m in one or more dedicated US real estate investment platforms, which will focus on investments in the US commercial real estate sector. Elbit Plaza USA's investment will be invested by Plaza Centers and its parent, Elbit Imaging Ltd, in equal shares.

Story provided by Business Financial Newswire