Sella buys real estate from Yitzchak Mirilashvili for NIS 431m
Sella Cash is getting 6 floors of workplaces and 90 underground parking spaces in the North Ha’arba’ah Tower in Tel Aviv, as properly as 80% of a Holon industrial centre.


Israeli authentic estate financial investment have confidence in (REIT) enterprise Sella Funds (TASE: SLARL) continues to extend and has acquired workplace and business area in central Israel for NIS 431 million moreover VAT. A source near to the deal has explained to “Globes” that the vendor is Israeli billionaire Yitzchak Mirilashvili, who owns a portfolio of holdings in actual estate, infrastructures, technology, communications and media like Rothshtein Construction and Belongings (TASE: ROTS) and the Channel 14 business Tv set station.

Sella Money, led by CEO Gadi Elikam and chairman Shmuel Slavin has agreed to get six floors of workplaces and 90 underground parking areas in the North Ha’arba’ah Tower in Tel Aviv as well as 80% of a industrial heart in Holon.

For the business space and parking in Tel Aviv, Sella Cash is having to pay NIS 295 million and for the industrial center 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 space masking 6,923 sq. meters, which are totally leased to two tenants – a tech business and capital market firm, which have choices to increase their leases by 5-10 several years for additional rent of 3%-10%.

Sella Funds reported that the six workplace floors create annual web functioning money (NOI) of NIs 16.8 million and that the annual returns are 5.7% with about 10% annual returns on funds.

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

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Gadi Elikam Credit: Avishay Finkelstein