Actual property funding belief Reit1 (TASE: RIT1) has agreed to purchase 45% of the positioning of the previous Sypholux manufacturing facility in Yigal Alon Road in Tel Aviv for NIS 127.7 million from A. Libental Holdings (TASE: LBTL), managed by Ofir Arviv, and privately-held firm Admit Automotive Industries and Companies in Jerusalem Ltd., owned by the Manor household.
The Sypholux website covers 4 dunams (1 acre) on Yigal Alon Road near Hashalom Street and Hashalom railway station. The companions are selling a plan to construct a tower with 54,000 sq. meters of area above floor for lease for workplaces and industrial use, and 12,000 sq. meters of area beneath floor for industrial use and parking. The deal values the land at NIS 282 million. The explanation for the low valuation might be the truth that alongside the way in which the companions should renew the leasing agreements with the Tel Aviv municipality on the positioning and to pay some NIS 324 million to be used of the positioning for workplace, residential, and industrial use.
Shmulik Rofe, CEO of Reit1, stated that the deal was a really important one for the belief, and was made towards a background of a strengthening workplace market in Tel Aviv previously two years. “We see the Sypholux website, which has a successful location subsequent to the primary highway junction within the nation and advantages from supreme accessibility by public transport, as an asset of the very best high quality, with the potential for acquiring a direct constructing allow.
“We imagine that within the mild of current geopolitical developments in our area, this is a perfect time to enter right into a deal of this type. Along with our high-quality companions within the website, the Manor household and Ofir Arviv, we’re assured of our skill to advance the undertaking quickly and exploit the positioning’s distinctive potential.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on November 12, 2025.
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