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All through a rocky period of time on the cash markets, JTLV, headed by Amir Biram, Shlomo Gutman and Ariel Rotter, has succeeded in boosting a NIS 2.1 billion for its 3rd authentic estate fund, “Globes” has discovered. The money increasing, in which some of Israel’s greatest economic establishments participated, alongside personal buyers, took position about significantly less than six months.

With each other with financial debt, the JTLV3 fund will be capable to acquire belongings to the tune of practically 3 occasions the cash raised, that is, above NIS 6 billion, according to data supplied to the different institutions. Amongst the buyers in the fund are Clal Insurance plan, Migdal, Harel, Menorah Mivtachim, Financial institution Hapoalim, and Meitav Sprint.




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JTLV3 purchases Mandarin Resort land in Tel Aviv







The fund presently has 3 promotions lined up. A single of them, the buy of the parking lot and the professional locations of the Mandarin Hotel in Tel Aviv for NIS 190 million was documented by “Globes” final month. The fund will receive land with rights to build 10,000 sq. meters of hotel space.

A different deal , not nevertheless finalized, is a strategy to acquire 15% of supermarket chain Shufersal’s together with hedge fund Brosh. The money made available NIS 540 million for a minority stake in Shufersal’s true estate previously this yr.

The 3rd deal, in accordance to the data introduced to the economical institutions, is the building of Ikea’s seventh retail store in Israel, in Ashdod. Together with the Ikea franchisee in Israel, the Bronfman-Fisher Team, the fund acquired fifty percent of the legal rights in the 110 dunam web page, on which a 25,000 sq. meter retail store will be created, from developer Tzachi Abu (through Ari Genuine Estate) for NIS 226 million.

Posted by Globes, Israel business enterprise news – en.globes.co.il – on July 7, 2022.

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


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