Aspen reduces activity in Germany: Sold office buildings for NIS 625 million
Aspen's share of the realization proceeds amounts to NIS 486 million ■ The company will record NIS 326 million in pre-tax free cash flow and related expenses, and NIS 103 million in profit Aspen's chairman: "The realizations will strengthen financial strength and reduce leverage"
Aspen Group, Menorah Mivtachim and Meitav Dash, Acquired Properties in the Netherlands
The companies acquired an 8 office building rental sites, on a 63,000 square metered parameter and 1,152 parking spots in Amsterdam, the Hague, Utrecht and Rotterdam. The deal is estimated at 472 million Shekels
“The conception that the building is the asset, and not its tenants, is old fashioned”
He made a multi million-dollar exit moments before the Internet bubble exploded. He believes in solid investments like bank stocks, but in more risky stocks, like Tesla. And he wants to bring innovation to the world of high-yielding real estate, in which his company, Aspen group, operates in. Rony Zarom in a special interview for Globes Investment Magazine.
Aspen Group realizes three properties in Germany for NIS 625 million
These are three office buildings in the cities of Dortmund, Düsseldorf and Munich, where its local subsidiary owns together with partners; Its share of the transaction proceeds is NIS 486 million; Guy Ferg, Chairman of Aspen Group: "Given the high real estate prices in Germany, we have decided to reduce activity in this country"; The company's stock leaps
Aspen, Elstoller and Shlomo Insurance jointly purchase 2 buildings in the Netherlands
As part of the deal, the group is acquiring a 96% building in Utrecht, for € 45.4 million; Meba Blvdarden, fully leased to a single tenant, for 13.4 million euros; Altshuler Shaham Properties and Shlomo Insurance will acquire a similar portion
Another realization for Aspen: sells office building in Stuttgart for NIS 190 million
Upon completion of the transaction, Aspen Group expects to make a profit of NIS 32 million (before taxes and expenses), and a free flow of NIS 71 million ■ In July, Aspen sold a logistics center leased to the Timberland network for NIS 200 million
Feel comfortable in the Netherlands and Germany, but look at other markets
Aspen Group Chairman, Guy Ferg, talks about the difficulty of recovering the yields of recent years in the European market, is comfortable with the level of leverage and is aiming for TA 125, aiming to bring the company growth into stock pricing insurance
Aspen Group Sells half of its Solar Activity to the Keren Noy Foundation for 55 Million Shekels
The company will register a 12 million Shekel profit for the deal, which took place as part of its goal to focus on the field of high-yielding real estate. Over the course of 2 years, both sides will be able to expand the deal to its overall activity
Aspen Group, Menorah Mivtachim and Meitav Dash, Acquired a 96 Million Shekel Property in the Netherlands
The company reported an acquisition of an office building as part of a strategic agreement with Meitav Dash Investments and Menora Mivtachim Group dating to the end of last year. The income generated from the rent is estimated at an 8% annual yield.