Our firm represented the Mehadrin Group in a transaction whereby it sold 40% of its rights in a 30-dunam plot located in the Kiryat Eliezer industrial zone in Netanya to Yuka Park, in consideration for NIS 82,400,000 plus VAT. Concurrently with the completion of the transaction, the parties intend to pursue the development of a joint project, with the first phase involving the construction of an industrial building with an estimated area of approximately 115,000 square meters, to be marketed for sale, with projected revenues of approximately NIS 1.2 billion. This was an exceptionally complex transaction requiring an extensive framework of agreements, including a sale agreement, a joint venture agreement, a seller’s loan agreement, and more, while addressing and providing unique and innovative solutions, inter alia, in light of regulatory interfaces with the Israel Land Authority, the Municipality of Netanya, and other relevant entities.
January 26, 2025
