Boligo buys logistics property in Pennsylvania for $ 40 million

by time news

Itai Goren, CEO of Buligo Capital (Photo by Oshrit Chachmon)

Boligo continues to expand its U.S. logistics center operations and after acquiring several such properties in the U.S. just two weeks ago, it is now completing a $ 40 million acquisition of another logistics center in Pennsylvania.

The logistics property is called Riverside business center and covers an area of ​​about 40,000 square meters. The immediate consideration for the purchase is approximately $ 35 million, while Boligo estimates that the total consideration, including the capital for the improvement of the property, will be approximately $ 40 million. The equity that the company will invest in the transaction is $ 13 million.

More in-

Boligo was listed on the stock exchange last September. The company was then issued at a company value of NIS 320 million and is traded today (after the wave of declines at the beginning of the year) at a company value of NIS 780 million, which means that whoever bought a share in the issue actually doubled his money.

Boligo specializes in strategic real estate investments in the US, with an emphasis on housing (multi-family) commercial centers, logistics centers and nursing homes. Boligo was founded in 2012 by the founders, CEO Itai Goren, Ilan Tamir and Eyal Shlimak. In addition to its investments in real estate, the company made an investment in Reigo, a start-up company in the fintech field, which focuses on financing first mortgages on US real estate. Artificial intelligence base.

In principle, the field of logistics centers is a very hot field in the US and since the outbreak of the Corona crisis, the field has become even hotter. .

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