Connect with us

Hi, what are you looking for?

Jewish Business News

Real Estate

JEC sells the Bridlewood Mall in Toronto for C$63 million

Fishman Holdings unit JEC and its subsidiary Darban have sold their entire stakes in the 30, 000-sq.m. Bridlewood Mall.

Bridlewood Mall

Bridlewood Mall

/By Moshe Golan /

Fishman Holdings unit Jerusalem Economy Ltd. (TASE:ECJM) (JEC) and its subsidiary Darban Investments Ltd. today announced that they have sold their entire stakes in the Bridlewood Mall in Toronto for C$63 million. The two companies wholly own the 30, 000-square meter mall in equal shares.

The gross free cash flow from the sale (before transaction costs and taxes) will be NIS 104 million.
JEC also announced that the due diligence on the sale of the Northgate Mall in Saskatoon, Saskatchewan, for NIS 216 million has been completed.
“This is a Canadian asset which has greatly increased in value since the company bought it, and that is reflected in the sale price, ” said JEC president CEO David Zvida. “The present deal follows a recent sale, which together generate substantial cash flow and greatly reduce the company’s leverage. The company is pursuing its work plan, which is based on strengthening equity and financial ratios, while creating a return for shareholders.”
Eliezer Fishman is the controlling shareholder in “Globes”.
Published by

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...


Now Platika joins and elite club of $10 billion plus Israeli firms.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...