Sella Cash is shopping for six flooring of places of work and 90 underground parking spaces in the North Ha’arba’ah Tower in Tel Aviv, as properly as 80% of a Holon commercial center.


Israeli actual estate expenditure believe in (REIT) corporation Sella Cash (TASE: SLARL) carries on to broaden and has bought workplace and professional space in central Israel for NIS 431 million plus VAT. A resource close to the offer has instructed “Globes” that the seller is Israeli billionaire Yitzchak Mirilashvili, who owns a portfolio of holdings in true estate, infrastructures, technology, communications and media which include Rothshtein Construction and Belongings (TASE: ROTS) and the Channel 14 industrial Television set station.

Sella Cash, led by CEO Gadi Elikam and chairman Shmuel Slavin has agreed to obtain 6 floors of workplaces and 90 underground parking spaces in the North Ha’arba’ah Tower in Tel Aviv as effectively as 80% of a commercial heart in Holon.

For the office environment room and parking in Tel Aviv, Sella Funds is paying out NIS 295 million and for the industrial middle in Holon NIS 136 million. The six flooring in the North Ha’arba’ah Tower at 28 Ha’arba’ah Street are the 30th-35th flooring with office area covering 6,923 square meters, which are thoroughly leased to two tenants – a tech business and funds sector enterprise, which have choices to increase their leases by 5-10 a long time for more lease of 3%-10%.

Sella Cash said that the six business flooring make annual net working cash flow (NOI) of NIs 16.8 million and that the yearly returns are 5.7% with about 10% yearly returns on cash.

Revealed by Globes, Israel small business information – en.globes.co.il – on July 17 2022.

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



Gadi Elikam Credit score: Avishay Finkelstein
