Gornitzky represented Commerce Center (Azo-Rit) Ltd., of Melisron Group Ltd., in an intriguing and challenging transaction for the sale of the entirety of the company’s rights in the commercial center “Ofer Honim Konim” located in Rishon LeZion, to the REIT Fund, Sela Capital Real Estate, for a total of NIS 178 million + VAT.
The commercial center at hand (also referred to as ”Power Center”), is two stories high (including a basement), and offers a variety of chain stores.
In addition, our firm represented Commerce Center (Azo-Rit) Ltd. with regard to all antitrust aspects involved in the transaction, including the submission of a “bright green” merger notice to the Antitrust Authority. The Director-General’s approval was then received within 24 hours.
The agreement was signed on March 25, 2018 and the closing took place on March 28, 2018.
The company was represented by Partner Shlomo Cohen and Associate Dana Suidman.