HERZL TEL AVIV

HERZL TEL AVIV

Project Description

HERZL

Tel Aviv

2009

Acquisition date

Formerly the Bezeq Logistics Center on Herzl Street in Tel Aviv,
extends over an area of 32,000 sqm including structures
with an area of 17,000 sqm. Former zoning
rights for industry, storage and
telephone operations

Date of Acquisition – 2009

2009

Betterment Activities

The Fund promoted a plan for changing the designation to circa 700 residential units, in addition to retail and employment areas, building preservation and development of public spaces, including a primary school

The Fund planned a master program for all owners of rights in the area, reaching a capitalized lease agreement with Israel Land Authority for the compound, as well as an agreement with Israel Post

2011

Interim uses

The fund rented the property, and hosted the “Fresh Paint” art fair during the maintenance period.

Current
status

The new zoning plan has been approved and the plan is in the permits and marketing stage (as “BLOOM”).

Date of Sale: 2011