IDB's Property and Building sells Barneys building in Chicago
TEL AVIV, June 13
TEL AVIV, June 13 (Reuters) - Israeli real estate developer Property & Building, a subsidiary of debt-ridden conglomerate IDB Holding, has agreed to sell the Barneys building in Chicago for $154 million.
The 9,000-square-metre building was purchased in 2011 for $122 million and together with rental income received over the past two years Property & Building had a pretax gain of $38 million, the company said on Thursday.
The buyer, who was not identified, is an American corporation specialising in shopping centres, Property & Building said.
The two main tenants of the building are Barneys New York and Citibank.
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