Sella Funds is purchasing six flooring of workplaces and 90 underground parking areas in the North Ha’arba’ah Tower in Tel Aviv, as properly as 80% of a Holon professional center.


Israeli authentic estate financial investment belief (REIT) firm Sella Money (TASE: SLARL) carries on to broaden and has acquired business office and industrial space in central Israel for NIS 431 million additionally VAT. A source near to the offer has told “Globes” that the seller is Israeli billionaire Yitzchak Mirilashvili, who owns a portfolio of holdings in authentic estate, infrastructures, know-how, communications and media which includes Rothshtein Development and Property (TASE: ROTS) and the Channel 14 professional Tv station.

Sella Capital, led by CEO Gadi Elikam and chairman Shmuel Slavin has agreed to purchase six floors of workplaces and 90 underground parking spaces in the North Ha’arba’ah Tower in Tel Aviv as perfectly as 80% of a business heart in Holon.

For the business area and parking in Tel Aviv, Sella Capital is paying out NIS 295 million and for the industrial heart in Holon NIS 136 million. The 6 flooring in the North Ha’arba’ah Tower at 28 Ha’arba’ah Avenue are the 30th-35th flooring with business room masking 6,923 sq. meters, which are thoroughly leased to two tenants – a tech business and cash industry business, which have solutions to extend their leases by 5-10 several years for excess lease of 3%-10%.

Sella Money stated that the 6 place of work floors produce annual web operating earnings (NOI) of NIs 16.8 million and that the annual returns are 5.7% with about 10% yearly returns on capital.

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

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



Gadi Elikam Credit: Avishay Finkelstein