Mishorim Development Ltd. (TASE:MSHR) signed a memorandum of understanding to acquire Wakefield Commons from Westdale Asset Management, LLC for $22.5 million on August 8, 2016. Consideration will be paid with Mishorim’s resources and, possibly, external funding. Rent of Wakefield Commons amounts to $2.3 million. The transaction is subject to pre-conditions, including the completion of a due diligence process. The completion is expected to occur in September 2016.