Namdar Reality Holdings Ltd. and Yigal Namdar signed an agreement to acquire Crossroads WV and Beaver Valley in Pennsylvania from Pennsylvania Real Estate Investment Trust (NYSE:PEI) for $49 million on October 13, 2016. As per the terms of the deal, the transaction payment will be made by the week ending January 20, 2017. Namdar Reality Holdings will acquire 70% stake in Crossroads WV for $17.3 million and 70% stake in Beaver Valley in Pennsylvania for approximately $17 million. In related deal, Namdar Reality Holdings Ltd. and Yigal Namdar signed an agreement to acquire Crossroads Waterloo from third party for $10.3 million on October 27, 2016. Namdar Reality Holdings will finance the acquisition by using the proceeds raised in the public offering of bonds. Post-completion, the acquired assets will be managed by Namdar Realty Group LLC. Crossroads WV has annual net operating income of $3.5 million and Beaver Valley in Pennsylvania has annual net operating income of $4.5 million. As on January 11, 2017, the Board of Namdar Reality Holdings approved the deal. Namdar Reality Holdings Ltd. and Yigal Namdar completed the acquisition of Crossroads WV and Beaver Valley in Pennsylvania from Pennsylvania Real Estate Investment Trust (NYSE:PEI) on January 12, 2017.