Lahav LR Real Estate Ltd (TASE:LAHAV) signed an agreement to acquire commercial center in Erfur, Germany from a third party for €11.5 million on September 13, 2016. The transaction will be financed with a 1.3% bank loan worth about €8.7 million. The transaction is subject to pre-conditions, such as the local authorities acquisition right waiver and the agreement of the asset tenants to change certain conditions in the contract. The transaction is expected to close by December 2016.