Sella Cash is obtaining 6 floors of offices and 90 underground parking areas in the North Ha’arba’ah Tower in Tel Aviv, as very well as 80% of a Holon industrial middle.


Israeli serious estate financial investment have confidence in (REIT) business Sella Cash (TASE: SLARL) proceeds to expand and has bought office environment and business area in central Israel for NIS 431 million in addition VAT. A resource near to the offer has instructed “Globes” that the seller is Israeli billionaire Yitzchak Mirilashvili, who owns a portfolio of holdings in serious estate, infrastructures, technology, communications and media together with Rothshtein Construction and Assets (TASE: ROTS) and the Channel 14 industrial Television station.

Sella Funds, led by CEO Gadi Elikam and chairman Shmuel Slavin has agreed to purchase 6 floors of offices and 90 underground parking areas in the North Ha’arba’ah Tower in Tel Aviv as effectively as 80% of a industrial centre in Holon.

For the office environment room and parking in Tel Aviv, Sella Capital is paying out NIS 295 million and for the professional heart in Holon NIS 136 million. The 6 floors in the North Ha’arba’ah Tower at 28 Ha’arba’ah Avenue are the 30th-35th floors with office area covering 6,923 square meters, which are thoroughly leased to two tenants – a tech business and money industry enterprise, which have selections to lengthen their leases by 5-10 yrs for more hire of 3%-10%.

Sella Money claimed that the six business office floors create once-a-year net functioning money (NOI) of NIs 16.8 million and that the once-a-year returns are 5.7% with about 10% yearly returns on cash.

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

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



Gadi Elikam Credit rating: Avishay Finkelstein