Sources inform that israel real estate developer American Colony Ltd. is set to float its European activity on London’s Alternative Investment Market (AIM) at the ambitious value of €400 million. UK investment bank Collins Stewart will be the lead underwriter for the issue.
American Colony develops, builds, markets and manages residential property projects. It listed on the TASE last May, and currently has a market cap of just NIS 309 million. The company intends to float on AIM its wholly owned subsidiary Inter Colony Real Estate Development Ltd., which manages its property business in Hungary, Romania, and Cyprus. Inter Colony is building a total of 20,000 units, 3,000 of which are in the process of being sold.
Thursday, February 28, 2008
Banks raise pressure on Ramet Israel Properties
Controlling shareholder Shlomo Shmeltzer to back out of the deal to acquire Ramet, just ten days after the intensive negotiations between the two sides first came to light.
At the same time, sources in the building sector believe the deal between Ramet and Shmeltzer fell through after it transpired that the figures provided proved "unreliable." Real estate sources estimate that this was due among other things, to the fact that Ramet's liabilities exceed its assets. They also expect Shmeltzer to begin legal proceedings against Ramet.
At the same time, sources in the building sector believe the deal between Ramet and Shmeltzer fell through after it transpired that the figures provided proved "unreliable." Real estate sources estimate that this was due among other things, to the fact that Ramet's liabilities exceed its assets. They also expect Shmeltzer to begin legal proceedings against Ramet.
Monday, February 25, 2008
Israel is less exotic but just as attractive
2007 was a record year from the aspect of mergers and acquisitions, and the volume of activity worldwide is unlikely to fall. As for mergers and acquisitions in Israel, until now Israeli companies that wanted to grow looked overseas, while on the other hand, foreign investors looking at the good macroeconomic data coming out of Israel saw opportunities. There are good businesses here, and growth rates are high despite everything, so Israel is attractive. There's a genuine reason for taking a look in Israel and so far the country has weathered the crisis well, a fact borne out by the substantial amounts that companies have managed to raise in recent years.
"On the other hand, Israel is now less exotic because of the credit crisis, since there are now more opportunities on other markets, which makes Israel more expensive.
"On the other hand, Israel is now less exotic because of the credit crisis, since there are now more opportunities on other markets, which makes Israel more expensive.
Saturday, February 23, 2008
Demand for real estate is now brisk.
The city started taking off some 12 years ago. That's when the Africa Israel Real Estate company started constructing a large residential complex called Kiryat Savyonim, which has 1,500 residential units and more than 6,000 residents. It had its own schools and shopping center, and was a city apart.
The new quarter was built to a very high standard and attracted many yuppies. The apartments were large and airy, relatively inexpensive and suddenly nearly a quarter of the population belonged to a different social strata. Kiryat Savyonim, which was very much within the municipal boundaries of Yehud, became fashionable.
The new quarter was built to a very high standard and attracted many yuppies. The apartments were large and airy, relatively inexpensive and suddenly nearly a quarter of the population belonged to a different social strata. Kiryat Savyonim, which was very much within the municipal boundaries of Yehud, became fashionable.
Thursday, February 21, 2008
US-Israeli developers plan Disney style theme park in Eilat
The huge 1,300 dunam beachfront project, the largest in Israel, will be located in Eilat, near the border of Jordan. The project was planned and designed by the teams that helped create Walt Disney's Epcot park in Orlando and is based on attractions at Disney World, MGM, and Universal Studios. Amusement rides will be mixed into areas that mimic the look of other cities including Hollywood, New Orleans, San Francisco, Rio de Janeiro, St. Tropez, and Venice.
Sonnenblick-Goldman, a New York real-estate investment banking firm, is in charge of raising financing from US and European investors for the park.
Sonnenblick-Goldman, a New York real-estate investment banking firm, is in charge of raising financing from US and European investors for the park.
Monday, February 18, 2008
Ramat Gan's Elite Real Estate landmark
In 2006, the Elite chocolate plant building was sold to Sonny Kahan of Crescent Heights, a Miami-based real estate developing company, for $44 million. Crescent Heights announced that it would build a luxury tower with real estate mogul Donald Trump.
After a tremendous amount of media hype about a Trump Tower going up in Israel real estate, the project was shelved and the property was resold last year to Azorim, which is controlled by Boymelgreen Capital. The new project, the Azorim Elite Tower, will either be the tallest tower in Israel or else will be tied for that honor when completed.
After a tremendous amount of media hype about a Trump Tower going up in Israel real estate, the project was shelved and the property was resold last year to Azorim, which is controlled by Boymelgreen Capital. The new project, the Azorim Elite Tower, will either be the tallest tower in Israel or else will be tied for that honor when completed.
Friday, February 15, 2008
Perhaps it really is a bargain
In less than a year, Africa-Israel Investments (TASE: AFIL) has gone from the status of the new "people's share" to being the outcast of the Tel Aviv 25 list. Since the peak registered last May, the share had fallen 60% before yesterday's upward correction, leaving many investors disappointed.
But if you ask controlling shareholder Lev Leviev, Africa-Israel is actually a very interesting stock. "Africa-Israel is the biggest bargain on the market," Leviev said in warm defense of the stock at the International Rough Diamonds Conference that took place on Tuesday.
But if you ask controlling shareholder Lev Leviev, Africa-Israel is actually a very interesting stock. "Africa-Israel is the biggest bargain on the market," Leviev said in warm defense of the stock at the International Rough Diamonds Conference that took place on Tuesday.
Tuesday, February 12, 2008
Tel Aviv's Bitzaron and Ramat Israel Real Estate
Bitzaron and Ramat Israel were built hastily in the early 1950s to provide housing for Holocaust survivors, mostly from Hungary and Romania, and for families from Yemen. The neighborhood currently has some 5,000 inhabitants. Over the years the area was considered a distressed neighborhood and was not afforded adequate urban development. But about eight years ago the infrastructures were improved and the gentrifiers began to arrive.
Friday, February 08, 2008
Lev Leviev’s empire built on diamonds and real estate
Lev Leviev is perhaps best known as the man who defied De Beers, the mighty cartel that controlled the flow of the world’s supply of rough diamonds.
By doing so, Leviev has become one of the world’s richest men. Close friends claim he’s worth about $8 billion, but Forbes lists him at a conservative $4.1 billion.
By doing so, Leviev has become one of the world’s richest men. Close friends claim he’s worth about $8 billion, but Forbes lists him at a conservative $4.1 billion.
Wednesday, February 06, 2008
Delek Real Estate buys Tel Aviv and Haifa properties
DMR Properties (1995) Ltd., bought a five dunam (1.25-acre) lot on Hamasger Street in Tel Aviv for NIS 64 million. Vitania and DMR will own the lot in equal shares. The lot is zoned for an 18,000-square meter gross space office building. The companies plan to demolish the buildings occupying the site and build the office building. Delek Auto's board has authorized DMR to extend to Vitania a NIS 32 million five-year loan at Prime + 1% interest to buy its share of the lot.
Sunday, February 03, 2008
Giron buys Polar stake for NIS 125m
Giron real estate bought 1.82 million Polar Investment shares at NIS 69 per share, a 56 percent premium on yesterday's closing price of NIS 44.27. The sale was made at a company value of NIS 587.1 million for Polar, compared with its market cap of NIS 364.8 million.
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