Buyers and landlords: the new project of training the community

The company will build a medical center in the BBC complex and rent it on 6 floors that will be used for a rehabilitation hospital - a continuation of 10 geriatric rehabilitation hospital wards, for a period of about 24 years

Walla!

Real Estate

26/12/2021

Sunday, 26 December 2021, 14:46 Updated: 14:54

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The training of the settlement, under the management of Ofer Nimrodi, continues to develop the arm of income-producing properties in Israel. The company reported that it has signed a strategic agreement for the establishment of a Geriatric Medical Center (MRI) in the Pro Medical Tower on the BBC, on the Ramat Gan-Bnei Brak border. Of the red line of the light rail that is expected to start operating in about a year.

The agreement to operate the Marag is signed with Tal Turgeman and Shmuel Reichman, the founders of Beit Hadar - the Marg Rehabilitation Hospital in Ashdod and with extensive experience in the field of continuous rehabilitation hospitals and geriatric centers.

It was also agreed that a dedicated company would be established for the establishment of the Marg, which would be maintained by Tal Turgeman and Shmuel Reichman (who would hold two-thirds of the rights in the company) and by Hachsharat Yishuv (who would hold one-third of the rights in the company). According to the rate of department opening in the geriatric center, 6 floors in the tower for a period of 24 years and 6 months.

The rent to be paid for the training of the settlement will be about NIS 830,000 a month, plus VAT, and a total of about NIS 10 million a year, plus VAT.

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Pro Medical Tower at the BBC of Hachshara Yishuv (Photo: Studio 84)

The 6 floors (5 floors for inpatient wards and operational floor) will make it possible to establish 10 inpatient wards (two inpatient wards on each floor). The 10 inpatient wards plan respiratory wards, rehabilitative geriatrics wards, complex nursing wards, a nursing ward, and other wards, all in accordance with the approval received from the Ministry of Health.

Beyond the 6 floors rented by the company that is building the Marag, it was given the option to increase the area of ​​the center's inpatient wards by another 3 floors. Exercising this option will increase the annual rent to NIS 16 million per year.

The Pro Medical building is located on a total area Of approximately 57,000 square meters and will include, as stated, 20 floors for medical uses and a commercial floor. So far, the stages of erecting the basements and parking lots of the tower have been completed.

It should be noted that Hachshara Yishuv has chosen to hold a third of the rights, as a minority in the establishment company of the Marag, and thus also enjoy the potential inherent in improving the value that may arise in the coming years from operating the Geriatric Medical Center. Will be performed based on the many years of experience, professional knowledge and capabilities of the partners.

All partners will provide the funding according to their share.

"Significant tier in project promotion"

Ofer Nimrodi, CEO of Hachshara Yishuv: “The current agreement is another and very significant step in promoting the entrepreneurial income-generating projects we have been promoting in recent years. The agreement for the establishment of the geriatric medical center, which can reach up to about half the area of ​​Pro Medical Tower, is a milestone in the implementation of the business goals we have stated and to which we are committed. Following the agreement, we will begin the construction of the tower in the coming months, which will be one of the most central, large and advanced in the country in the medical-geriatric field. The medical-geriatric field is characterized by a consistent increase in demand in light of the increase in life expectancy in Israel. Accordingly, the settlement training also sought to directly hold rights to one-third of the project company initiating the establishment of the hospital. This deal is very significant for the training of the community, and we are negotiating with a number of additional potential tenants who will populate the rest of the areas in the tower. Adjacent to Pro Medical Tower, we are continuing the process of building the Seven Stars office tower."We also see it as one of the flagship assets of community training, which will also make a significant contribution to achieving the goal we have set for doubling the NOI of community training in Israel in the coming years."

Tal Turgeman, CEO of the company that initiates the establishment of the rehabilitation hospital: "We are happy and proud to harness the experience and strength of training the community, together with our many years of experience in the field of geriatric hospitals, to establish one of the most advanced and largest geriatric hospitals in Israel."

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