The income-producing real estate company Vitanya Updated on negotiations for the sale of half of its holdings in an office tower in Ramat Hachayal in Tel Aviv, for about NIS 270 million. Vitanya for the year 2020.
Vitanya did not report who was on the side of the buyer, but as far as is known he is the businessman George Horesh, One of Israel’s richest men, who through the private union group deals, among other things, with the import of Toyota vehicles.
Revenues of NIS 9 million in 2020
This is a 17-story tower with an area of nearly 20,000 square meters (gross), which also includes a little more than 700 parking spaces, which is fully leased to the generics giant Teva, for a monthly fee of NIS 2.3 million (plus VAT), index-linked .
Construction of the tower, on Deborah Street The prophecy was completed about a year ago (October 2020), including adjustment work carried out for Teva, it was then handed over for its use, and in 2020 it yielded Levitania revenues of about NIS 9 million.
Boitanya estimated that “the completion of the negotiations, to the extent that it is completed, will take place in the coming weeks.”
Vitanya is traded on the stock exchange at a market value of about NIS 1.4 billion, after a jump of about 65% shown by its share since the beginning of the year.
Levitania has a number of shareholders who together hold about 45% of the capital, including the brothers Dan and Gad Proper, the Hamama family, Ehud Samsonov (chairman), the Shamia family, Moshe Teomim, Modi Kidon and more.
The company made headlines in the last summer months, when it agreed to sell an office tower to be built in the coming years in south Tel Aviv together with its partner in the property, Delek Rachav, to Bank Hapoalim, for a huge sum of close to NIS 1 billion. The 40-story tower will serve as the central headquarters of the workers, which will be the lending bank of the project.
Transferred ownership of union investments to his son and daughter
In addition to his automotive business, Horesh, one of the leading and richest businessmen in Israel, has been active in the fields of energy and trade, and in recent months has joined a long line of prominent businessmen in Israel who in recent years have transferred their wealth or much to the next generation.
A draft prospectus of the Dalia Energy power plant company, which sought an initial public offering in Tel Aviv (and shelved the move due to price differences with the institutional ones), revealed that Horesh transferred ownership of his energy and trading business to his son and daughter, Andrew and Roxanne Horesh. .
These include holdings in the Super Pharm chain, the H&M fashion chain in Israel, the discounted Daiso product chain and the Maxima industrial gases company, which was previously traded on the stock exchange.