Summit Real Estate Holdings Ltd. (TASE:SMT) and others signed an agreement to acquire Ten Residential Rental Buildings in New York for $89 million on April 25, 2021. Summit Real Estate Holdings Ltd. will finance the purchase with $26 million of its own equity and $63 million external credit. Summit Real Estate Holdings Ltd is providing 85% of the capital required, and the others is providing 15%. Ten Residential Rental Buildings annual revenue, on the basis of existing leases and after operating expenses, is $4.5 million. The transaction is expected to be completed within the next few weeks.