JTLV raises NIS 2.1b for third real estate fund
In the course of a rocky time period on the cash marketplaces, JTLV, headed by Amir Biram, Shlomo Gutman and Ariel Rotter, has succeeded in raising a NIS 2.1 billion for its third true estate fund, “Globes” has learned. The capital boosting, in which some of Israel’s major economical institutions participated, alongside personal traders, took spot in excess of considerably less than 6 months.

With each other with debt, the JTLV3 fund will be equipped to acquire property to the tune of almost a few instances the funds raised, that is, over NIS 6 billion, according to information equipped to the many institutions. Amongst the investors in the fund are Clal Insurance policy, Migdal, Harel, Menorah Mivtachim, Lender Hapoalim, and Meitav Dash.




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JTLV3 purchases Mandarin Lodge land in Tel Aviv







The fund now has 3 promotions lined up. One of them, the buy of the parking ton and the commercial places of the Mandarin Resort in Tel Aviv for NIS 190 million was reported by “Globes” previous month. The fund will obtain land with legal rights to build 10,000 square meters of lodge place.

An additional offer , not still finalized, is a plan to acquire 15% of grocery store chain Shufersal’s alongside one another with hedge fund Brosh. The cash offered NIS 540 million for a minority stake in Shufersal’s true estate earlier this year.

The 3rd deal, according to the information offered to the fiscal establishments, is the building of Ikea’s seventh retailer in Israel, in Ashdod. Together with the Ikea franchisee in Israel, the Bronfman-Fisher Team, the fund purchased fifty percent of the rights in the 110 dunam web site, on which a 25,000 square meter shop will be manufactured, from developer Tzachi Abu (through Ari Serious Estate) for NIS 226 million.

Posted by Globes, Israel business information – en.globes.co.il – on July 7, 2022.

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