Delek Global Real Estate has sold a Canadian apartment building for CAN$36.7m (£20.1m).

A trust and a company indirectly owned by the property arm of the Israeli Delek Group sold Place Chatel in Montreal, which comprises 300 flats, to an unknown party.

It was sold at just under the last valuation of CAN$37.5 (£20.5m) as of 31 December 2008.

The Delek companies owe CAN$21.6m (£11.8m) in loans on the 27-storey property.

The loan has been transferred to the buyer and is guaranteed by the Delek parties. Delek said the guarantees will remain in force until the termination of the loan, which is expected in 2011.

The operating income of then building is CAN$2.5m (£1.3m).