Reality Investment Fund is pleased to inform of the acquisition of rights in the Arena Mall in Herzliya, which spans approx. 25,000 sqm of retail (leasable) space and approx. 1,300 underground parking spaces.
The Fund acquired about one third of all of the rights in the Property from the public company Arena Star Group Ltd., jointly with the Phoenix Insurance Company Ltd., a company of the Tidhar group.
The primary rationale behind the transaction is the material betterment potential of the Mall