British-Israel buy IKEA Israel property

Bronfman Fisher Investments Ltd. subsidiary Isralom Properties Ltd. (TASE:ILOM) and British-Israel Investments Ltd. (TASE: BRTS), controlled by Leo Noe, have jointly bought the IKEA Israel store in Netanya for NIS 175 million from Blue Square Furniture Ltd., a subsidiary of Bronfman Fisher Investments, and the IKEA franchisee in Israel. Isralom will own two-thirds of the building, and pay NIS 116.7 million; British-Israel will own one-third through Azo-REIT Commercial Centers Ltd., and pay NIS 58.3 million. The IKEA Israel store has 23,715 sq.m. of main and service space. Matthew Bronfman and Shalom Fisher control Bronfman Fisher.