Real Estate Firm Selden Real Estate Seeks NIS 285 Million Bond Offering
Translated & summarized from Ice by baba
Real estate company Selden Real Estate is planning its first bond offering on the Tel Aviv Stock Exchange, seeking to raise up to NIS 285 million. The company, owned by Udi Saada, has seen its equity more than double in recent years. The funds will be used for debt repayment and new development projects, including commercial and logistics properties. Selden Real Estate anticipates substantial growth in its Net Operating Income in the coming years.
The story in 5 lines · by baba
- Selden Real Estate plans to raise up to NIS 285 million through its first bond offering.
- The company's equity has more than doubled in the past three years, reaching approximately NIS 147 million.
- Funds will be used for debt repayment to Bank Leumi and financing new development projects.
- Key projects include a commercial center in Gan Yavne and a logistics facility in Ofakim.
- Selden Real Estate expects significant growth in Net Operating Income by 2027 and 2028.
Selden Real Estate, owned by businessman and entrepreneur Udi Saada, has published a public prospectus draft for its first bond offering on the Tel Aviv Stock Exchange, aiming to raise up to NIS 285 million. The company, established in 2014, specializes in income-producing properties (commercial, industrial, and offices) as well as residential development in Israel. Its equity has more than doubled in the past three years, increasing by approximately 108% to about NIS 147 million. Selden Real Estate currently holds 14 income-producing properties and four residential real estate assets. The offering will be secured by a first lien on the company's rights to a commercial center in Gan Yavne, Phase A, and the "Beit HaDuvdevan" property in Kiryat Ono. The company's flagship project, Selden Gan Yavne, a commercial and employment center spanning 24,800 square meters, is set to complete its first phase in Q4 2026, with the second phase beginning next year. The Beit HaDuvdevan project in Kiryat Ono, featuring approximately 2,700 square meters of commercial space, is fully occupied. Funds raised will partly be used to repay the company's debt to Bank Leumi and to finance new projects. In the logistics sector, Selden is initiating the construction of 13,780 square meters of logistics space in Ofakim, with construction slated to start in Q1 2027. The company projects significant growth in its Net Operating Income (NOI), anticipating it to reach approximately NIS 28.85 million in 2027 after the occupancy of Gan Yavne Phase A, and NIS 39.65 million in 2028 after the completion of Phase B.
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