According to the report, this involves the purchase of 75% of six income-producing real estate properties for 26 million euros, with the transaction being made at a discount rate of 7.46%, and the purchase of 56% of a rental property property at 60 million euros, with the transaction being made at a discount rate of 8.11%. This is an exceptional discount rate, at a time when both have a long-term lease (8.3 and 13.5 years) and it can be assumed (and hopefully) that these are opportunity deals.
According to the company, after the execution of the first transaction, the company will actually hold 75% of all the rights in the portfolio and its partner BGM will actually hold 25%. In the second transaction, Lahav will hold approximately 26% of the total rights in the property and BGM will hold approximately 75%.
Lahav’s entry into Delek Israel and its control of the company in order to improve it is a significant move in which Lahav invests NIS 262 million in exchange for Delek Israel. The move turns Lahav into a type of holding company – real estate activity, alongside fuel activity and retail activity (mint chain). The company also has renewable energy activity.
Lahav is controlled by Avi Levy, with Eli Lahav and Ilik Rozensky working in real estate, especially in Germany, with an emphasis on the smaller cities, where its managers believe there is room for greater improvement and the prices are relatively reasonable. , Lahav also has real estate in the local market.
In its reports for the third quarter, the company reported a sharp jump in revenue to NIS 37.5 million, with most of the increase attributable to revaluation of assets in affiliated companies and joint ventures. Bottom line, the company reported a net profit of NIS 28.8 million, compared with a loss of NIS 2.1 million. In the corresponding quarter last year, as of the end of the quarter, the company’s shareholders’ equity amounted to NIS 396 million – market value amounts to NIS 645 million (for the full article).
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