Gadi Ouzen, Ori Haubenstock, and Amir Shachar, assisted by Eden Kravitz, represented Phoenix Group in a joint venture involving the establishment of a limited partnership for the purpose of acquiring a portfolio of 16 open-air retail centers located in Pennsylvania and Maryland, USA. As part of the transaction, Phoenix will invest approximately USD 55 million in the partnership’s equity and will hold limited partner rights at a rate of 49%.
In addition, the parties entered into a framework agreement for the examination of possible future acquisitions of additional open-air retail centers in the USA, with the total investment framework potentially reaching approximately USD 220 million.
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