Reality Investment Fund is pleased to inform of the acquisition of rights in the Arena Mall in Herzliya, which spans approx. 25,000 sqm of retail (leasable) space and approx. 1,300 underground parking spaces.
The Fund acquired about one third of all of the rights in the Property from the public company Arena Star Group Ltd., jointly with the Phoenix Insurance Company Ltd., a company of the Tidhar group.
The primary rationale behind the transaction is the material betterment potential of the Mall
Reality Fund is pleased to announce the sale of the property on Kook St. in Herzliya, in consideration for approx. NIS 34 Million. The property, which was used as a Bezeq telephone exchange, was acquired in July 2011 for a total cost of approx. NIS 25 million and was sold to a group of private developers.
As part of its enhancement activity, Reality promoted a new zoning plan to change the designation of the site from communication to residence, while significantly increasing the building rights. Reality also added the adjacent parcel to the new plan, changed the access routes to the property and allocated space to the Herzliya municipality for a public garden. During the enhancement period, and as part of the Reality Fund policy to make the most use of the property in the interim period, the basement floor of the property was leased to the national life saving volunteer organization "United Hatzalah Israel", which uses the property as a training center to promote free of charge first aid training. In addition, most of the property's remaining areas were leased for the establishment of the "Herzliya Cross-fit" sports center.
Reality Fund is happy to announce the sale of the property at Chen Boulevard in Herzliya. The property was acquired in December 2011. The Fund worked to promote a new zoning plan, under the authority of the Local Zoning Committee, for a significant increase of the number of residential units (from 19 to 32). The sale of the property represents a yield of around 141% on the capital invested.
Reality Fund is happy to announce the sale of its property at Donolo Ha-Rofe St. in the Ajami neighborhood of Tel Aviv, for ILS 70 Million. The property was purchased in a tender of the Israel Land Authority, in July 2013, for about ILS 37 million.
In the context of betterment efforts, the Fund worked to promote a new zoning plan, under the authority of the Local Planning and Building Committee, to significantly increase the number of residential units authorized to be built on the land. At the same time, Reality obtained confirmation from the Israel Land Authority that registration of the rights in the land will be possible, subject to the approval of the new plan and Parcellation of the land
Reality Investment Fund is happy to announce the purchase of the ownership rights in one half of the site, 20,000 sqm large, at Hof Hatzuk in Northern Tel Aviv. The remaining rights in the property are owned by Ashdar Building Co. Ltd. The "West" apartment hotel, which includes some 161 residential units (over 13 floors), is located on the lot. The Fund began acting to promote the enhancement of the property by improving the existing plan, in cooperation with Ashdar
Reality Investment fund together with a private Israeli investor acquired the "Bezeq complex", located on Lincoln street in Tel-Aviv. The fund will initiate betterment while fulfilling the the asset's potential
Reality is happy to announce the purchase of the Journalists' House compound. The compound was purchased jointly with the fund's institutional investor- Phoenix insurance company, their share of transaction is 33%, whereas reality holds the additional 66%.
Reality is happy to announce the purchase of the Neve Ilan compound. The compound was purchased jointly (co - investment) with the fund's institutional investors, their share of transaction is 50%, whereas reality holds the additional 50%. Reality intends to re- position the site as Israel's largest communication and leisure campus.
We are pleased to update you on the acquisition of 50% of Bezeq’s Training and Technology Service Center, located at 31 Bar Yehuda Road in the City of Haifa, for approximately NIS 72.3 million (for about 100%). The site has significant enhancement potential, including the possibility of rezoning the land to mixed use, while substantially increasing the building rights. In the interim period, it is expected to produce a net yield of approximately 7.5%.
Reality Fund is happy to announce the sale of the property, once used as a Bezeq exchange in the Barbour neighborhood of Yad Eliyahu, Tel Aviv, for about ILS 44 million. The property was purchased in 2010 from Bezeq for about ILS 20 million. As part of the enhancement steps it took, Reality acted to promote a new zoning plan, in which the property will be redesignated from crafts and industry to a mixed use of senior housing, student housing and retail, with a significant increase of the building rights from 120% to about 600% after the redesignation. During the enhancement period, Reality made the property available for social and community initiatives.
Reality Investment Fund is pleased to bring you this update on the acquisition of a compound in the Jaffa Port in Tel Aviv, which
extends over an area of approximately 4,800 sqm, with an abandoned building , for ILS 182 million.
Reality Fund won the Israel Land Authority tender which was held on April 23, 2017 for the Mayumana compound in Jaffa Port. Reality Fund (75%), together with the Nadlans company of the Yitzhak Levavi Group (25%), submitted a bid of approximately ILS 182 million and beat the other 18 bids submitted.