According to FUNDER website data,
25 mutual funds hold NIS 9.24 million in Medipower shares
Funds that hold significant holdings in the stock – for the full list of holdings
The following is a change in the holdings of mutual funds in the Medipower share according to FUNDER-MVF data.
NOI from identical assets decreased by only 0.8%
In January 2021, the company signed a memorandum of principles for the purchase of 5 income-producing real estate properties in the Philadelphia area for approximately $ 115 million; the company intends to raise capital and debt in the amount of approximately $ 30 million
CEO Ron Stern: “We continue to implement the company’s growth strategy focusing on quality assets anchored in financially sound tenants who provide basic needs for the community. Despite the Corona Challenge, we are ending a year in which we have been able to grow and meet the goals we set for ourselves. “Global and traffic restrictions There is a demand for basic products and services such as supermarkets, pharmacies, etc. We intend to expand the property portfolio on the east coast of the United States while maintaining a stable balance and a high level of liquidity.”
Medipower, an income-producing real estate company specializing in the acquisition, management and improvement of community shopping centers, Reports its financial results for 2020. Against the background of the continuing Corona virus crisis, the company continues to assess that its exposure to the crisis is limited both in the short and medium term, among other reasons:
A. The nature of the properties (commercial centers anchored in defined tenants are essential) – all remained open and active throughout the crisis.
B. The high percentage of active commercial areas – only a minority of tenants were forced to cease operations and during June last year returned to operations.
third. The strength of the anchor tenants.
D. Expect that most of the rent not yet paid by the time the reports are approved will be paid in full in the future.
The FFO amounted to approximately $ 7.1 million during the reporting period, compared to approximately $ 5.8 million in 2019, an increase of approximately 22%.
Profit from rental property (NOI) amounted to approximately $ 16.7 million during the reporting period, compared to approximately $ 12.7 million in 2019 – an increase of approximately 31%.
As of December 31, 2020, the capital attributed to the capital holders was approximately $ 75.3 million, compared to approximately $ 72.6 million at the end of 2019.
Recall that at the end of January this year, the company reported the signing of a memorandum of principles for the acquisition of a portfolio that includes 5 income-producing real estate properties in the Philadelphia area of the US state of Pennsylvania, amounting to approximately $ 115 million. The deal is expected to expand the company’s leased commercial space by about 60%, increase the total value of its assets to about $ 360 million and allow Medipower to accelerate the growth rates of its operations in the US by continuing to implement the investment strategy in commercial centers anchored in defined tenants.
According to the presentations presented by the seller, the current NOI of the properties is about $ 8 million per year, the average leases are about 6 years, while the average leases of the supermarkets in the properties is about 9.4 years, the total occupancy rate in the properties (including the supermarkets ) Stands at about 89% and the average rent per square meter is about $ 12 per month.
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