In the Media
BSRE: New Residential Division with 11,000 Apartments and Record Profit of NIS 634 Million
According to the company’s annual report, controlled by Moti Ben-Moshe, the net profit in 2023 surged by 114% compared to 2022, reaching a record high. Both NOI (Net Operating Income) and rental income also increased, mainly from the commercial centers and parking lots at Givon Square and TLV Mall. The total value of the company's real estate assets stands at approximately NIS 8 billion.
BSRE Real Estate Raises Forecast: Profit Soars 280% to 65 Million NIS in the Quarter
BSRE's NOI increased by 7% in the third quarter of the year to 250 million NIS; FFO for the third quarter of the year amounted to approximately 85 million NIS, a growth of about 44% compared to the same quarter last year.
The cornerstone has been laid for the luxury project Ashurman 32 in the Ramat HaTayasim neighborhood of Tel Aviv.
BSRE's prestigious project includes two boutique buildings, each with 7 floors and 97 residential units, ranging from 2, 3, 4, and 5-room apartments, as well as penthouses. The project also features commercial spaces in proximity to the purple line light rail station.
Tel Aviv renews with a luxury project: How many apartments will be sold?
The cornerstone has been laid for the luxury project: Ashurman 32 in the Ramat HaTayasim neighborhood of Tel Aviv. BSRE's prestigious project includes two boutique buildings, each with 7 floors and 97 residential units, ranging from 2, 3, 4, and 5-room apartments, as well as penthouses. The project also features commercial spaces in proximity to the purple line light rail station.
A total of approximately NIS 670 million: Lease transactions for about 20 years
BSRE has signed lease agreements for approximately 60% of the rental space in the EAST& Tower for periods of around 20 years, totaling approximately NIS 670 million. The offices of the largest tenant, the headquarters of a foreign tech company in Israel, will span 5 floors, covering about 6,300 sqm. The construction completion is expected by the end of 2024. In recent months, BSRE has also acquired the Shafa complex in Bnei Brak along with a partner.
For NIS 22 million: BSRE, with partners, purchased 22 dunams in Bat Galim
BSRE, along with companies KTV and Noam Sahar, purchased the land on HaAliya Street in Haifa. They plan to demolish the existing shopping center and build a small mall, along with residential towers featuring dozens of units. The existing residential buildings will not be demolished.
The agreements reveal: Office rentals in a high-demand area in Tel Aviv at NIS 155 per sqm
BSRE has leased 60% of the office space in the EAST& tower in Tel Aviv for 20 years. The average price is not low, which contrasts with recent trends where office rental prices have been declining due to high supply and other investment alternatives.
BSRE: Net profit surged by 183% to NIS 133.6 million in the quarter
BSRE's NOI increased by 6% to NIS 93 million in the first quarter; the FFO for the first quarter totaled approximately NIS 79.3 million, reflecting a growth of about 38%.
Extension of lease agreements with Carrefour worth NIS 294 million to BSRE
As first reported in Calcalist, the company reached an agreement with the Carrefour chain to update the rent for 59 supermarkets it leases to the retail chain. The agreements have been extended until 2040, compared to the original expiration date of 2031.
Moti Ben-Moshe in a massive deal: Lease agreements worth NIS 670 million
BSRE signed lease agreements for about 60% of the rental space in the EAST& building for periods of approximately 20 years, with a total value of about NIS 670 million.
BSRE concludes the quarter with a 70% increase in revenue
The company increased rent for the Carrefour retail chain, and rental income rose to NIS 115 million in the quarter. Operational income amounted to NIS 106 million. BSRE continues to advance urban renewal initiatives within the company.
BSRE invests in Jerusalem: Acquires the Bezalel complex
The company will pay approximately NIS 121.5 million for the 12.5-dunam complex located between the Hebrew University and the Hadassah Mount Scopus Hospital.
Huge deal: Office tower opposite Beilinson sold for NIS 377 million
BSRE acquires the new office tower, which is set to begin construction in the coming months and is expected to be occupied in 2025. The tower will be built opposite the Beilinson Medical Center and commercial and entertainment centers in the area.
