Alex Schneider's Mishorim Sells Afula Property for $9.5 Million

The real estate company Mishorim, controlled by businessman Alex Schneider, has finalized the sale of its property in Afula, Israel. The deal, initially agreed upon in May, was completed after all necessary approvals were obtained and the full payment was received.

The property includes approximately 9.1 dunams (9,153 square meters) of land with a 7,360 square meter building comprising offices, retail space, and a basement. Mishorim owned about 5,400 square meters of this space, with the remaining portion belonging to a third party. The buyer is an unrelated entity.

Mishorim acquired the Afula property in 2017 for 30 million shekels. The company, which focuses on income-generating real estate in Israel, the US, and Canada, will receive 35 million shekels (excluding VAT) for the sale. A deposit of 7 million shekels was paid in May, with the remaining 28 million shekels paid upon completion.

The transaction is expected to generate approximately 33.8 million shekels in free cash flow for Mishorim after transaction expenses. The company received confirmation from its lender that the existing loan does not require repayment following the sale, allowing Mishorim to access significant liquid funds. Schneider recently increased his stake in Mishorim.

Accounting-wise, the sale price matches the property's book value as of the end of 2025, meaning Mishorim will not recognize a substantial accounting gain or loss from the transaction.