Arno Capital Group and the non-bank credit company SR Accord cooperate in financing credit and real estate guarantees
Dana Sander, CEO of Arno Capital
Photography:
Sivan Federman won
Produced by the Department of Special Supplements
Arno Capital Group, controlled by Dana Sander and the non-bank credit company SR Accord, controlled by businessman Adi Zim, have signed a cooperation agreement under which they will provide a comprehensive solution to all financing needs in the real estate sector, starting with providing credit and guarantees for projects and entrepreneurs. Committee for granting non-bank credit and check discounting service to contractors and service providers in projects.
The collaboration will provide an end-to-end financial envelope for developers and contractors that will include, among other things, credit facilities for construction, including equity completion and all other financing services required as part of accompanying construction processes.
It is expected that the cooperation will result in the provision of credit facilities of more than NIS 250 million during the current year, and accordingly will significantly increase the business activity of the companies in the real estate sector in Israel.
The agreement with SR Accord follows Arno's report about a year ago that it had contracted with Ayalon Insurance, in order to provide developers with insurance policies and credit terms equal to those currently accepted in high-frame real estate projects.
Want to stay up to date all the time?
Sign up now for the Real Estate Newsletter today
Talking real estate with Ofer Petersburg. Listen to the new podcast >>
The Arno Real Estate Fund of the Arno Capital Group is in the midst of a tenth round of raising funds through a public prospectus, after successfully completing nine rounds of raising a cumulative amount of more than NIS 300 million.
Dana Sander, CEO of Arno Capital: "The collaboration significantly expands the range of financing and credit we will offer as a holistic solution to the growing demand in the entrepreneurship and contracting sector in Israel, while maintaining close maintenance of the credit portfolio and the quality of borrowers."
Adi Zim, controlling shareholder of SS Accord: "I believe that together we will soon become a dominant factor in the field. The agreement is another important pillar in the company's accelerated business development, which will lead to new opportunities for us, while controlling risk."
Produced by the Department of Special Supplements