Aloni Hetz: Acquires a complex in England for NIS 200 million – the capital market

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A private subsidiary (96%) reports that it has signed an agreement to purchase a 17-dunam complex in the Science Park in Cambridge, England, on which two buildings with an area of ​​about 70 square feet are built, for £ 45 million (about NIS 193 million). ).

This is a Cambridge Science Park complex that is currently leased until May 2031 to companies from the Science Life industry, which serve as a research and development center. The complex is leased at full capacity and the company expects that in 2021 it will yield an annual NOI (less lease fees) of about £ 2.2 million (about NIS 10 million).

According to the company’s announcement, this is a 150-year long-term lease agreement signed by subsidiary Brockton Everlast when “the complex has future improvement potential for the establishment of a modern science park, while significantly increasing building rights.” The transaction is expected to be completed during March 2021.

Natan Hetz, CEO of the company: “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 NIS 134 million). Aloni Hetz invested about NIS 300 million (about NIS 1.3 billion) in the purchase of the six properties.

Decline in revenue and earnings in the third quarter
In its reports for the third quarter, it reported revenues of NIS 417 million in the third quarter, a decrease of 13.7% compared to the corresponding quarter. Net profit decreased by a similar rate and amounted to NIS 158 million. However, the FFO increased by 5% and amounted to NIS 126 million. The collection of rent in the group remains high and the companies continue to sign new contracts and renew existing contracts on similar terms before the crisis. The company will distribute a dividend of NIS 50 million.

Aloni Hetz’s revenues in the third quarter of 2020 amounted to NIS 416.9 million, a decrease of 13.7% compared to revenues of NIS 483 million in the corresponding quarter last year. On the bottom line, the company reported a net profit of NIS 157.8 million, a decrease of 13.7% compared to a profit of NIS 182.7 million in the corresponding quarter last year. The FFO in the third quarter amounted to NIS 126 million, an increase of 5% compared to NIS 120 million in the corresponding quarter last year (for the full article).

About two weeks ago, Aloni Hetz announced that she was realizing in Washington. Carr subsidiary sold half of the complex for $ 455 million, the company’s share in the property will now be 51%. The value of the entire property in the books: $ 965 million (for the full article).

Aloni Hetz is a holding company that focuses on the fields of income-producing real estate and renewable energy. In the field of income-producing real estate, the Group operates in Israel, Washington and Boston in the United States and the United Kingdom.

The company holds 57.1% in Amot investments, 54.3% in Energix, 44.2% in CARR (control: 50%), and also has a partnership (50% in control) with Oxford Properties in 3 office buildings in Boston.