Aloni Hetz reports today that BE has signed an agreement to purchase a 17-dunam complex, on which two buildings are built in a rental area of about 70,000 square meters, located in the city of Cambridge in the UK for £ 45 million (about NIS 193 million). ), Not including transaction costs.
The complex is leased until May 2031 to companies from the Life Science industry, which serve as a research and development center. The complex is fully leased and is expected to yield an annual NOI of £ 2.2 million in 2021 (approximately NIS 10 million).
The complex has the potential for future improvement for the establishment of a modern science park, while significantly increasing building rights.
Financing of the transaction will be done through equity that will flow an arrow to BE.
Closing is expected to take place during March 2021 and, as usual, is subject to the existence of conditions precedent.
Mr. Natan Hetz, CEO of Aloni Hetz said: “We are pleased to update that BE has signed an agreement to purchase a complex at Cambridge Science Park. The complex has a future improvement potential for the establishment of a modern science park while adding considerable building rights. This deal is a continuation of BE’s purchase about a year ago of a business park located near Oxford city center. Cambridge and Oxford are among the most important global centers in the field of life science and are home to the leading universities in the world. The life sciences field has gained momentum in the corona crisis that has illustrated the field’s importance to progress, technology, health and the economy and BE plans to continue to expand its activities in this field.
Upon completion of this acquisition, BE will own six income-producing properties in the UK with a total value of over £ 700 million (approximately NIS 3.1 billion) yielding an annual NOI of over £ 30 million (approximately £ 134 million). “H). The equity capital invested by Aloni Hetz in BE for the purpose of acquiring the six assets is approximately £ 300 million (approximately NIS 1.3 billion).