Boymelgreen buys Assuta compound for $50m
The Assuta compound is zoned for 180 apartments in a 24,000-sq.m. 35-storey high-rise.
Guy Yamin 26 Mar 06 13:29
Boymelgreen Capital Ltd. (TASE:BMGN), controlled by US-Jewish businessman Shaya Boymelgreen is due to buy the Assuta Medical Centers compound on Jabotinsky St., Tel Aviv from Gad Zeevi and Jack (Yaki) Dunietz for $50 million by web-posting today. Last week, Boymelgreen acquired Azorim Investment, Development and Construction Ltd. (TASE: AZRM) through Boymelgreen Holdings Ltd.from IDB Holding Corp. Ltd. (TASE:IDBH), controlled by chairman Nochi Dankner, for $320 million.
The Assuta compound is zoned for 180 apartments in a 24,000-sq.m. 35-storey high-rise, plus another 40 apartments in the Assuta Hospital’s existing buildings, and 2,400 sq.m. of commercial space. The development is being promoted by Mirage Israel Development Ltd., owned by Zeevi, and Dag Hacesef Assets & Buildings (1992) Ltd., Dan Goldstein and Jack (Yaki) Dunietz.
The Urban Building Plan (UBP) passed its first hurdle when the Tel Aviv Local Planning and Building Commission approved it, but many objections are expected from local residents when the UBP is deposited with the Tel Aviv Regional Planning and Building Council. The residents fear that a shortage of parking in the area caused by the project will lower property values. The UBP includes 100 parking places in addition to the 340 parking places allocated for the building itself.
Published by Globes [online], Israel business news -
www.globes.co.il - on March 26, 2006
March 26th, 2006, 04:36 PM
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