JTLV raises NIS 2.1b for third real estate fund
All through a rocky time period on the capital marketplaces, JTLV, headed by Amir Biram, Shlomo Gutman and Ariel Rotter, has succeeded in elevating a NIS 2.1 billion for its 3rd authentic estate fund, “Globes” has discovered. The money raising, in which some of Israel’s major financial establishments participated, together with non-public buyers, took place over significantly less than 6 months.

Alongside one another with debt, the JTLV3 fund will be in a position to purchase property to the tune of approximately 3 occasions the cash lifted, that is, about NIS 6 billion, in accordance to info supplied to the various establishments. Between the traders in the fund are Clal Insurance plan, Migdal, Harel, Menorah Mivtachim, Bank Hapoalim, and Meitav Dash.




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JTLV3 purchases Mandarin Hotel land in Tel Aviv







The fund now has 3 deals lined up. A single of them, the buy of the parking great deal and the professional locations of the Mandarin Hotel in Tel Aviv for NIS 190 million was noted by “Globes” past month. The fund will receive land with rights to assemble 10,000 sq. meters of lodge area.

Yet another offer , not nevertheless finalized, is a prepare to acquire 15% of grocery store chain Shufersal’s jointly with hedge fund Brosh. The funds presented NIS 540 million for a minority stake in Shufersal’s true estate before this 12 months.

The third deal, in accordance to the data offered to the monetary establishments, is the development of Ikea’s seventh shop in Israel, in Ashdod. Together with the Ikea franchisee in Israel, the Bronfman-Fisher Team, the fund acquired 50 percent of the rights in the 110 dunam web-site, on which a 25,000 sq. meter store will be made, from developer Tzachi Abu (by way of Ari Serious Estate) for NIS 226 million.

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

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