The insurance company Menorah Motvethim is entering another promising field – this time it is the field of logistics centers: the company announced today (Monday) that it will invest in Nadav B. Logistics of the businessman Nadav Bila, according to a value of about NIS 300 million (after the money) and will become a partner with a 49% share. The insurance company says that the investment in the logistics company “will strengthen the company’s equity and allow it to continue the growth rate it has been in for the past few years.”
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The logistics company is engaged in the initiation and leasing of industrial areas and logistics centers throughout the country. The company owns land for logistics centers mainly in the Ashdod and Kiryat Gat area. Since 2020, the company has registered a series of wins in Israel Land Authority tenders in this area, the last of which was in May 2022 – when the company won a tender for about 22,000 square meters designated for crafts, small industry and trade in the Be’er Tovia regional council, for about NIS 112 million, a price that was high Three and a half times the appraised price.
“The warehousing and logistics industry in Israel has developed a lot in recent years,” says Itai Shafran, VP of business development and strategy at the Geocartography Institute. “The expansion is mainly along the longitudinal and latitudinal axes in Israel, and of course in proximity to two demand generators: the ports (Ashdod until the last year and Haifa in the future) and population.
“In recent years, Nadav Bille has created a portfolio of land in central and unique strategic locations, at attractive prices that create advantages for him both in terms of pricing and especially in terms of yield. Looking to the future, Menorah sees the direction and development in spaces beyond prime locations, in the periphery and in the countryside, where Nadav has assets and land to initiate on a significant scale “.
The company Nadav b. Logistics was represented in the transaction by the lawyers Shira Margalit and Aviv Perianti from the Herzog office, with the assistance of the company’s lawyer, Yiffit Sharon; Menorah Mitvahim was represented in the transaction by lawyers Orit Israeli and Guy Cohen from the Fisher office.
We note that this is not the first collaboration between Menorah and Nadav Bila. During the past year, the insurance company purchased 50% of the commercial center “Kermi Gat Center” in the Kremi Gat neighborhood in Kiryat Gat, for approximately NIS 75 million. The tender is being built these days, and is expected to open around the upcoming Passover. This transaction has not yet been published.
“The field of logistics will yield adequate returns in the coming years”
Nadav Bille said after the signing: “We welcome the investment of the Menorah Mivathim group in the company. This is a first-rate strategic partner, which will help continue to develop the company’s activities in the field of industry and the logistics centers that the company is developing, and will also help develop a multi-year business plan for the establishment of additional industrial centers and logistics centers Across the country”.
Nadav Bila, the owner of Nadav b. Logistics / Photography: Ofer Chen
Uzi Levy, CEO of Menorah Mvtehim Real Estate: “The field of logistics centers is one of the most developing fields of real estate in recent years, for several reasons, among them the strengthening of the supply chain of firms and an increase in the volumes of electronic commerce. Nadav Bila is a talented and experienced businessman, and we are happy to cooperate and lead the company to growth and development. We believe that the field of logistics will yield adequate returns in the coming years.”