An unknown buyer acquired property in the Herzliya Marina and property in Ashkelon from Azorim Investment Development & Construction Co. Ltd. (TASE:AZRM) for approximately ILS 110 million on December 31, 2015. A third party exercised a call Option over property in the Herzliya Marina given on March 18, 2015 by Azorim Investment Development & Construction and by the partner with which Azorim Investment Development & Construction owns the property (50% each). The consideration for the property is a total of ILS 75 million, to be paid equally to Azorim Investment Development & Construction and the Partner. In addition, on December 31, 2015 Azorim Investment Development & Construction completed the sale of a land in Ashkelon in exchange for ILS 38.6 million. Proceeds amounting to NIS 32 million were paid until December 31, 2015 and the remaining NIS 6.6 million will be paid until December 31, 2016.

An unknown buyer completed the acquisition of property in the Herzliya Marina and property in Ashkelon from Azorim Investment Development & Construction Co. Ltd. (TASE:AZRM) on December 31, 2015.