BRIEF: Fishman completes NY property sale for $44.75m 

BRIEF: Fishman completes NY property sale for 44.75m

May 06, 2012 (Menafn - Globes - McClatchy-Tribune Information Services via COMTEX) --Fishman Holdings subsidiaries Industrial Buildings Corp. (tase:IBLD) and Darban Investments Ltd. have completed the sale of their rights to a property at 5 Franklin Street in Manhattan's Tribeca area for 44.75 million (NIS 169 million).

Industrial Buildings and its subsidiary Darban own the lot in equal shares. They expect to report a gross profit of NIS 4 million on the sale, on top of the pretax profit of NIS 46 million they have already made on it from revaluations.

In a separate announcement, Darban said that it has obtained a NIS 200 million five-year loan at Euribor 2.65 percent. The company will give the lender a lien on six properties in Germany (five in Berlin and one in Cologne), which are leased to Deutsche Post and affiliates.

Industrial Buildings' share price fell 0.7 percent by early afternoon to NIS 5.37, giving a market cap of NIS 1.6 billion.

Eliezer Fishman is the controlling shareholder in "Globes".

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