Sella Cash is acquiring 6 floors of workplaces and 90 underground parking areas in the North Ha’arba’ah Tower in Tel Aviv, as nicely as 80% of a Holon business center.


Israeli serious estate investment belief (REIT) business Sella Money (TASE: SLARL) continues to increase and has bought business office and industrial space in central Israel for NIS 431 million furthermore VAT. A resource shut to the offer has instructed “Globes” that the vendor is Israeli billionaire Yitzchak Mirilashvili, who owns a portfolio of holdings in real estate, infrastructures, technology, communications and media including Rothshtein Development and Assets (TASE: ROTS) and the Channel 14 professional Tv set station.

Sella Capital, led by CEO Gadi Elikam and chairman Shmuel Slavin has agreed to obtain six 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 business center in Holon.

For the office house and parking in Tel Aviv, Sella Money is having to pay NIS 295 million and for the business heart in Holon NIS 136 million. The six flooring in the North Ha’arba’ah Tower at 28 Ha’arba’ah Avenue are the 30th-35th floors with office environment area covering 6,923 square meters, which are thoroughly leased to two tenants – a tech company and capital market firm, which have possibilities to extend their leases by 5-10 decades for more hire of 3%-10%.

Sella Funds explained that the 6 office floors make annual net running earnings (NOI) of NIs 16.8 million and that the yearly returns are 5.7% with about 10% yearly returns on cash.

Released by Globes, Israel organization news – en.globes.co.il – on July 17 2022.

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



Gadi Elikam Credit rating: Avishay Finkelstein