Megureit Israel Ltd. (TASE: MGURIT) has bought 80 apartments in the "Etz Haim" project adjacent to Jerusalem's Mahanei Yehuda market for NIS 200 million. Megureit is engaged in long term residential rentals. The sellers are the private landowners including businessman Amir Biram. The deal includes 38 underground parking spaces and 44 storage rooms.
According to the agreement the apartments will be handed over to Megureit within five years. Under the terms of the deal the sellers will receive NIS 160 million in Megureit equity and NIS 40 million in shares at NIS 7.50 per share.
