Avi Barzilai, CEO of Efi Properties (Photo by Tamar Mitzpi)
Yehuda and Roni Naftali are investing heavily in Warsaw. The investment will be made through Epi Public Properties, which was acquired from businessman Lev Leviev after the collapse of Africa Israel. Efi Properties is in fact entering into a partnership designed to develop an office and rental housing project of approximately 160,000 square meters.
In total, Epi Properties will invest 94 million euros in the project and will hold about 70% of the project. The company expects that the annual rental income from the project (upon completion and with full occupancy) will be approximately 38.5 million euros. Epic Properties is expected to own more than 5,000 apartments for rent by the end of 2025, most of them in Europe in Poland and the Czech Republic.
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Avi Barzilai, CEO of Efi Properties: “This transaction is a unique opportunity to expand our operations in Poland in the areas of offices and rental housing, which are key elements in the company’s growth strategy.
“As part of this, we enter into a strategic partnership with a leading development company in Poland to establish a unique project in the city. The project, located in the center of Warsaw, in the main business district and on the city’s main transport routes, .
As mentioned, Efi Properties through its subsidiary Efi Europe (100% owned) buys land and enters into a partnership to establish an office and rental housing project in Warsaw, Poland, amounting to about 160,000 square meters in exchange for about 94 million euros. Total annual rental income from the project ( Upon completion and assuming full occupancy) stands at about 38.5 million euros.
As part of the deal, Effie Europe will enter into a partnership with Echo Investment, a public company traded on the Warsaw Stock Exchange and a leading entrepreneur in Poland. Epic Europe will hold 70% of the rights and Echo will hold the balance. The two companies have signed additional agreements regulating the relationship between them including Call and Put mechanisms at the end of the establishment of each phase of the project.
The project is located in the WOLA district on the border of the city center and enjoys excellent transport accessibility with metro stations, bus, light rail and heavy rail within a few minutes walk. The city’s main business center is a 2-minute drive away. Following the completion of the transaction, the company’s rental housing units are expected to stand at more than 5,000 housing units, of which about 60% in Poland.
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