The current round raises the debt we raised in November 2021 which will be used by the company to complete transactions that are expected to support the company’s growth
Reit 1, the first and largest real estate investment fund in Israel, reported this morning on the completion of the institutional phase of raising capital, with high demand amounting to about NIS 391 million. The company announced that it will raise about NIS 120 million. The closing price in the auction reflecting NIS 21.51 per share, about 1.7% above the opening price yesterday, will be the minimum price in the public phase.
Dror Gad, Chairman of Reit 1: “The results of the institutional tender we held yesterday to raise capital reflect the strong expression of trust in the company and its activities. The current raising joins the debt raising of approximately NIS 240 million that we made in November 2021, which will be used by the company, among other things, to complete transactions. We have only recently completed the acquisition of the SOHO complex in Netanya, and are preparing to complete the acquisition of the Sky Tower parking lot in the Yitzhak Sadeh complex (Hassan Arafa) in Tel Aviv, as well as the acquisition of 50% of the new shopping center in Ganei Tikva and other properties. “In 2021, it is reflected in the company’s activity: an increase in demand for offices, an increase in revenue in the shopping centers, and a significant improvement in the company’s parking activity. We continue to work to identify additional investment opportunities.”