Erez Capital Fund Inc. acquires Zellers Anchored West End Mall located in Pembroke, Ontario



    OTTAWA, Feb. 4 /CNW Telbec/ - EREZ Capital Fund Inc. is pleased to
announce its recent acquisition of West End Mall, a 178,000 square foot
enclosed retail centre located at 1200 Pembroke St West in Pembroke, Ontario.
    The Shopping Centre is anchored by a 92,000 square foot Zellers store,
and includes other prominent National retailers, The Brick and Blockbuster
Video and a 27,000 square foot grocery store purchased from Canpro
Investments Ltd., and is a strategic investment with excellent expected
returns.
    Erez President, Udi Erez says, "We are very pleased with this
acquisition. The recent credit crisis coupled with higher spreads and
tightening lender parameters should bring new buying opportunities as cap
rates begin to rise. Erez has recognized an opportunity to focus on acquiring
retail properties in secondary markets across Canada. By investing in these
sub-markets, we are able to provide higher returns to our investors. Our aim
is to produce a geographically diversified portfolio of properties with stable
growing cash flows and potential for improvement."
    The deal was brokered by Aik Aliferis, Sam Firestone and Nick Pantieras,
of Primecorp Commercial Realty Inc., one of Canada's most highly regarded Real
Estate advisory firms, having transacted over C$2 Billion in Real Estate deals
over the past 10 years.
    Aik Aliferis, one of Primecorp's founding partners says, "Erez Capital is
a dynamic company with excellent insight in the Canadian market. Their
appetite for this type of Real Estate should see them achieve superior returns
even in today's aggressive market."
    Small market activity is growing and Erez Capital is committed to finding
opportunities that make sense.
    Sam Firestone says, "This acquisition demonstrates foreign investors'
appetite to acquire investment grade opportunities in Secondary markets within
Canada."
    While Nick Pantieras adds, "Strategic Investment opportunities are still
available in these aggressive and competitive markets."
    Erez Capital is making strong and valuable inroads in today's Canadian
Real Estate Market.




For further information:

For further information: Udi Erez, Media Relations, (416) 221-8806,
www.erezcapital.com

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EREZ CAPITAL FUND

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