A group of investors led by Israel's Elbit Imaging Ltd. says it will buy seven U.S. malls for $75 million from Australia's Charter Hall Retail.
The malls, four in Georgia, two in Oregon and one in Florida, have an annual operating income of around $7 million, Elbit said in a statement.
The malls cover 650,000 square feet and have an occupancy rate of 91 percent with tenants including Publix, Kroger, Albertsons, Safeway, Trader Joe's, Marshalls and Petsmart.
The buyer will be a new fund jointly set up by Elbit; its Dutch subsidiary Plaza Centres N.V.; Delaware-registered Eastgate Property LLC, which is privately held; and by EPN Real Estate Fund LP, a U.S.-based joint venture of the first three.
Charter Hall has been steadily selling its U.S. properties.