Sella buys real estate from Yitzchak Mirilashvili for NIS 431m
Sella Funds is shopping for six floors of places of work and 90 underground parking areas in the North Ha’arba’ah Tower in Tel Aviv, as properly as 80% of a Holon professional heart.


Israeli actual estate financial investment trust (REIT) business Sella Funds (TASE: SLARL) proceeds to extend and has bought business office and professional room in central Israel for NIS 431 million in addition VAT. A source near to the offer has informed “Globes” that the vendor is Israeli billionaire Yitzchak Mirilashvili, who owns a portfolio of holdings in real estate, infrastructures, engineering, communications and media including Rothshtein Construction and Assets (TASE: ROTS) and the Channel 14 industrial Television station.

Sella Capital, led by CEO Gadi Elikam and chairman Shmuel Slavin has agreed to obtain six flooring of workplaces and 90 underground parking spaces in the North Ha’arba’ah Tower in Tel Aviv as effectively as 80% of a industrial centre in Holon.

For the office room and parking in Tel Aviv, Sella Money is having to pay NIS 295 million and for the professional centre in Holon NIS 136 million. The 6 flooring in the North Ha’arba’ah Tower at 28 Ha’arba’ah Street are the 30th-35th floors with office environment area covering 6,923 sq. meters, which are thoroughly leased to two tenants – a tech business and capital sector company, which have options to lengthen their leases by 5-10 several years for added lease of 3%-10%.

Sella Funds explained that the 6 place of work floors make once-a-year net running earnings (NOI) of NIs 16.8 million and that the yearly returns are 5.7% with about 10% yearly returns on money.

Posted by Globes, Israel organization information – en.globes.co.il – on July 17 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.



Gadi Elikam Credit rating: Avishay Finkelstein
