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JTLV raises NIS 2.1b for third real estate fund

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During a rocky period of time on the money markets, JTLV, headed by Amir Biram, Shlomo Gutman and Ariel Rotter, has succeeded in increasing a NIS 2.1 billion for its third genuine estate fund, “Globes” has realized. The money boosting, in which some of Israel’s major economical establishments participated, together with personal investors, took place about less than 6 months.

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Alongside one another with financial debt, the JTLV3 fund will be in a position to get assets to the tune of approximately three moments the money lifted, that is, about NIS 6 billion, according to details provided to the several institutions. Between the investors in the fund are Clal Insurance, Migdal, Harel, Menorah Mivtachim, Lender Hapoalim, and Meitav Sprint.

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The fund presently has a few offers lined up. One particular of them, the purchase of the parking lot and the business places of the Mandarin Lodge in Tel Aviv for NIS 190 million was reported by “Globes” previous month. The fund will acquire land with legal rights to construct 10,000 sq. meters of resort space.

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A different deal , not still finalized, is a approach to order 15% of supermarket chain Shufersal’s collectively with hedge fund Brosh. The funds offered NIS 540 million for a minority stake in Shufersal’s genuine estate before this calendar year.

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The 3rd deal, in accordance to the information presented to the money institutions, is the construction of Ikea’s seventh keep in Israel, in Ashdod. Jointly with the Ikea franchisee in Israel, the Bronfman-Fisher Group, the fund bought fifty percent of the rights in the 110 dunam web-site, on which a 25,000 square meter retail store will be created, from developer Tzachi Abu (by Ari Real Estate) for NIS 226 million.

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Released by Globes, Israel organization information – en.globes.co.il – on July 7, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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