Electra Real Estate Ltd. is one of the leading real estate companies in Israel. The company was established in 1994 and developed the Omega Building in Haifa. Electra has been operating overseas since 1997 and the major growth in the company’s activities has taken place over the past four years. Electra Real Estate had a successful public offering on the Tel Aviv Stock Exchange in August 2005 and was ranked A- by Maalot.
Electra Real Estate owns approximately 100 Income-Producing assets, and another 10 projects under development. The total assets’ area the company owns amounts to 1,200,000 sq.m. About 97% of the company’s income derives from its overseas assets and 3% from assets in Israel.
Areas of Operation
Electra Real Estate operates in Israel and overseas in the Income-Producing Commercial Property sector including office buildings, shopping malls, logistics centers and hotels. In addition, the company is also active in developing office and residential projects in Israel and abroad.
Israeli Activities In Israel, the company owns 5 office buildings including: Omega Building in Haifa; buildings in Ra’anana leased to NICE and SAP; Reinhold Cohn House in Tel Aviv and The Kodak Building in Petach Tikva. Electra Real Estate is developing a project on the Tel Aviv seafront (sea-one Project), which will include 230 hotel rooms , and an additional 45 exclusive apartments for sale. Project website: http://www.seaone.co.il/.
The company is also developing luxury office towers in. Yigal Allon St. ("Elco Tower") and Haracevet St, Tel Aviv.
International Activities
UK: Electra owns 4 office buildings with long-term leases to the British Government, banks and insurance companies. The company also owns 10% of a fund, which has acquired 16 hotels in the UK, leased for 30 years to the Hilton chain and 10% of a fund, which has acquired 42 hotels in the UK, leased for 30 years to the Marriott chain.
US: Electra owns 9 office buildings in various US cities including Cleveland, Saint Louis, Norfolk, Atlanta, Louisville and Chicago. The buildings are rented on long-term leases for various periods. The company owns 60% of an apartment building in Manhattan, New York, which includes 128 apartments for rent. Within the framework of a change of status, the building was converted to a condominium and the unit’s selling presses is in the end.
Canada: Electra operates in Montreal, Toronto and Winnipeg. In Montreal, the company owns 9 office buildings in the city center and a logistics center, which is rented on a long-term lease to the Molson Beer Company. In Toronto, the company owns 4 office buildings, one of which is a 25-floor building leased for 10 years to the Zurich Reinsurance Company and the Canadian Government. In Winnipeg, the company owns two office buildings.
Germany: The Company owns 46 income-producing properties. The buildings are located in Koln, Munich, Hamburg, Nuremberg, Frankfurt, Berlin, Dusseldorf, Leipzig and Saarbrucken, and are rented on long-term leases for various periods.
Switzerland: The Company owns 4 buildings. Two buildings in Zurich are rented on a long-term leases to Philips and to SwissCom, a communications company. The company also owns buildings in Luzern and Biel.
Benelux: In the Netherlands: The Company owns 6 office buildings with long-term leases to the various tenants and two Shopping Center rented to Hornbach. In Belgium, the company owns 60% of a hotel in Antwerp, with a long-term lease to the Hilton chain. In Luxemburg, the company own one Shopping Center rented to Hornbach.
India: The Company formed a partnership along with a local partner for real estate investments in India. So far, the partnership purchased five plots in total area of 440 dunams. Two plots of land in the city of Hyderabad, India. One plot, covering an area of some 140 dunams, is near the new city airport and it is designated for about 300,000 sq.m. of office and logistic buildings. The second plot, covering an area of some 100 dunams, is near the city center and it is designated for about 2,400 housing units. Two more plots in Chennai, covering an area of some 170 dunams, are designated for commerce and housing. An additional plot in Mysore, covering an area of some 38 dunams, is designated for housing.