The company owns 4 luxury housing homes in Israel, which include about 830 housing units in the Central and Sharon area, an annual income rate of NIS 85 million and a high rate of addicted apartments of over 95%.
Beit Bakfar, one of the leading companies in Israel in the field of sheltered housing, which manages and operates four luxury housing for the elderly, has published a prospectus for the IPO and reports its intention to issue NIS 200 million in an allotment of 16% of the company’s capital, of which 8% as an offer. The issue reflects the company’s value of approximately NIS 1.26 billion after the money. The offering is led by Discount Capital Underwriting and operates by IBI. Underwriting and issues, and accompanied by the law firm m. Piron & Co., Deloitte Accountants and Barak Friedman Real Estate Appraisal Office.
As part of the offering, approximately 108,696 units are offered, in such a way that the composition of each unit includes 100 ordinary shares and 75 warrants at a total price per unit of NIS 1,840.
House income in the village in the first nine months of 2021 amounted to NIS 63.7 million, and represents an annual income rate of NIS 85 million. The NOI in the first nine months of 2021 amounted to approximately NIS 41.7 million, and represents an annual NOI rate of approximately NIS 56 million, approximately 66% of total revenues, a rate that is considered the highest in the industry. The net profit in the first nine months of 2021 amounted to approximately NIS 24 million.
In the last two years, since November 2019, the company has distributed a dividend of NIS 31 million to shareholders. The company has a dividend distribution policy of at least 30% of net profit, and the balance of the surplus amounts to NIS 323 million.
The company operates four sheltered housing complexes in Israel, which it owns, including about 830 housing units over a total area of about 81,680 square meters, with over 4,200 square meters of which are used for commerce. In addition, the company manages a fifth housing complex, Kinneret Beach. , With about 60 units covering over 4,000 square meters.
The proceeds from the offering will be used by the company to invest in the construction of future campuses, extensions and improvements to existing campuses. The company has two sheltered housing complexes in Kfar Saba with 373 housing units and the company intends to expand one of them and build 96 additional housing units with a total area of about 10,270 square meters. The company has begun work these days. In addition, the company purchased land with an area of about 4,200 square meters. In Be’er Ya’akov, it housed about 250 housing units.
A home company in the village makes increasing use of the monthly payment route using the leasing method, thanks to the low leverage and financial strength, and offers tenants who are interested in it to enjoy a monthly leasing payment, instead of a deposit fee. In this way the tenant can maintain his house, and enjoy the continued increase in value, while a house in the village reduces its leverage.