Delek Real Estate buys Tel Aviv and Haifa properties

DMR Properties (1995) Ltd., bought a five dunam (1.25-acre) lot on Hamasger Street in Tel Aviv for NIS 64 million. Vitania and DMR will own the lot in equal shares. The lot is zoned for an 18,000-square meter gross space office building. The companies plan to demolish the buildings occupying the site and build the office building. Delek Auto's board has authorized DMR to extend to Vitania a NIS 32 million five-year loan at Prime + 1% interest to buy its share of the lot.