Giant deal: Big is selling the luxury asset for 300 million shekels

The Big company, which deals in income-producing real estate in Israel and the USA, plans to exit its investments in that country. In the last 24 hours, the company conducted a massive deal to sell its holdings in Nevada and also executed a significant transaction in France.

The company completed the sale of its shopping center in the USA at a valuation of 103 million dollars (more than 300 million shekels). The sale of its share in the 'Sparks' shopping center in Nevada was completed at a price reflecting a high asset value, above the book value. Big is on track for a full exit from the USA by the end of the year. Big held 80% of the complex, which had a book value of approximately 95 million dollars as of the end of the first quarter of 2026.

As part of the deal, Big's subsidiary provided the purchaser with a bridge loan for six months in the amount of 75 million dollars, with an interest rate of 6% per annum, backed by a lien on the asset. The purchaser was given the right to extend the loan for two additional periods of 3 months each in exchange for extension fees. Big now has one last remaining asset in the country, The Waterfront shopping center in Pennsylvania, which the company expects to put up for sale during the current year.

Regarding the deal in France, the company sold all of its holdings in the subsidiaries BIG Opium and BIG Opium 2, which concentrate the company's storage and logistics operations. The shares were sold to Big's local partner. In return, Big will receive approximately 23.4 million euros, a sum close to the book value, to be paid by the end of 2028.

The agreement establishes strict protection mechanisms in favor of Big:

Any amount that is late in payment will bear interest of Euribor plus 5%. In the event that the full consideration is not paid by October 2029, full control of the partnership will pass to Big, including the right to realize its assets until the debt is covered.

In addition to the sale of the shares, the parties signed an agreement for the early repayment of owner loans that Big provided to the partnerships. The total of these loans currently stands at approximately 19.9 million euros, to be repaid by the end of 2027. Big's rights are secured with significant interest penalties (Euribor + 5%) and a personal guarantee from the partner that will take effect in 2029 if the loans are not repaid in full.