Israel-Canada (T.R) Ltd (TASE:ISCN) agreed to acquire Tel Aviv office tower from Bank Leumi Le-Israel BM, Asset Management Arm for ILS 77 million on September 17, 2015. Israel-Canada intends to pay for the deal in one of the following ways: an owners' loan, marketing rights in the land to potential buyers, recruiting partners, or obtaining financing from a financial concern. According to the structure of the deal, in the first stage of the signing of the deal, Israel-Canada will pay Bank Leumi, ILS 7.7 million. The remaining ILS 69.3 million is slated for payment by December 24, 2015 in exchange for handing over the holding in the property, a request to register a warning note, and providing the relevant approvals and fulfillment of the terms of the deal. The property is leased for proceeds totaling ILS 1.3 million a year. On December 22, 2015, a subsidiary of Israel-Canada (T.R) Ltd. signed an loan agreement with a local bank, under which the bank will lend an amount up to ILS 68 million. The loan is subject to pre-conditions, including the registration of the acquired property, so that the loan will be used to finance the acquisition and the property will constitute a guarantee for the loan. Meitar, Litman, Nechmad & Co acted as legal advisor for Bank Leumi Le-Israel and Ari Wechsler and Dikla Betzalel of Berkman Wechsler Sahar Bloom & Co acted as legal advisor for Israel-Canada. Israel-Canada (T.R) Ltd (TASE:ISCN) cancelled the acquisition of Tel Aviv office tower from Bank Leumi Le-Israel BM, Asset Management Arm on September 17, 2016.