Migdal Group Enters the Rental Housing Market
Migdal Insurance and Finance signed a purchase and partnership agreement with Y.H. Dimri Ltd., under which it will acquire 49% of the rights for the establishment and operation of a long-term rental project by the company in the Sirkin neighborhood of Petah Tikva, for approximately 61 million shekels.
The project will include 339 housing units for long-term rental (50% regulated rent and 50% for the free market), commercial and employment spaces, public buildings, and more. According to the terms of the tender, at the end of the rental period, the parties will be entitled to sell their rights in the complex.
Migdal Insurance and Finance was represented by Adv. Gili Riezel, a partner in the Real Estate Department, and Adv. Lior Drimmer Yogev from our firm’s Real Estate Department.
Please see: here
Migdal Insurance and Finance signed a purchase and partnership agreement with Y.H. Dimri Ltd., under which it will acquire 49% of the rights for the establishment and operation of a long-term rental project by the company in the Sirkin neighborhood of Petah Tikva, for approximately 61 million shekels.
The project will include 339 housing units for long-term rental (50% regulated rent and 50% for the free market), commercial and employment spaces, public buildings, and more. According to the terms of the tender, at the end of the rental period, the parties will be entitled to sell their rights in the complex.
Migdal Insurance and Finance was represented by Adv. Gili Riezel, a partner in the Real Estate Department, and Adv. Lior Drimmer Yogev from our firm’s Real Estate Department.
Please see: here
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