Greek Orthodox Church quietly selling off Israeli real estate

By -NO AUTHOR-

(Haaretz) An anonymous company registered in a tax shelter paid $3.3 million for 240 apartments, a commercial center and open areas in the center of Jerusalem.

The deal, for what appears to be a ridiculously low price, was made by the Greek Orthodox Patriarchate of Jerusalem, the second largest real estate owner in Israel, after the Israel Lands Authority. In recent years the Patriarchate has been quietly selling off its properties in various parts of the country to companies hidden in tax shelters, for sums so low one wonders whether the church is trying to get rid of its assets at any cost.

While the reason for the numerous sales and the low price remain a mystery, three agreements obtained by Haaretz shed some light on the transactions.

Source:: World Net Daily Faith

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