Equity One sells office building to City of Miami Beach for $6.1 million
Deal, claim settlement expected to generate Gazit-Globe $10.6 million
Equity One (NYSE:EQY) today announced that it has completed the sale of an office building in Miami Beach, Florida to the City of Miami Beach for some $6.1 million.
The deal is expected to generate Equity One about $4.3 million capital gains.
The firm also said that the City of Miami Beach is to transfer to it another $450,000 in settlement of a claim filed by Equity One.
Equity One is controlled by Tel Aviv-traded real estate firm Gazit-Globe. The deal and the claim settlement are expected to generate Gazit-Globe some NIS 10.6 million gross capital gains in the first quarter of 2002.
Scroll to Continue
TheStreet Recommends
The parent company Gazit is expected to post some NIS 6.1 million capital gains.
