American Investor Morris Wilner Raises Stake in Israeli Real Estate Firm Hefts to 14%

Jewish-American businessman Morris Wilner has significantly increased his holdings in Israeli real estate company Hefts Heisuv, acquiring an additional 7% of its shares at 40 shekels per share, bringing his total stake to 14.13%. Part of the shares were purchased from Menora Mivtachim, which sold 3.3% but retained 6.24%. Wilner, who also holds 5.7% of real estate firm Gav-Yam valued at around half a billion shekels, expressed plans to further increase his stake in Hefts Heisuv. He praised the company’s Seven Stars Mall in Hatzliya and its other assets.

Currently residing in Jerusalem and splitting his time with New York, Wilner has met multiple times with Hefts Heisuv’s controlling shareholder, Ofer Nimrodi. Discussions have included the possibility of Wilner acquiring control or at least entering joint control with Nimrodi, either by buying shares directly from Nimrodi or continuing market purchases. Sources close to the company say Nimrodi is not interested in selling control but is open to shared control, though no formal negotiations are underway.

Hefts Heisuv, controlled by Nimrodi, develops income-generating properties in Israel and Poland and operates urban renewal projects through its subsidiary Hefts Renewal. The company’s market value is about 1.6 billion shekels, with its stock up 15.6% over the past year but flat since the start of 2024.

Wilner’s main business is in the U.S., where he has extensive commercial real estate and multifamily housing investments. He also owns 10% of Arco gas stations in Israel and previously chaired its subsidiary GPM. Wilner told Calcalist he might seek a board seat at Hefts Heisuv but emphasized his investment is financial, motivated by his interest in Israeli real estate. He also holds shares in Amot, another Israeli real estate company.

In July, Wilner was revealed as the buyer behind two major Hefts Heisuv share purchases totaling about 118 million shekels, including a 73 million shekel purchase from Phoenix and a subsequent 45 million shekel buy. Nimrodi holds 52% of Hefts Heisuv and would remain the controlling shareholder even if he sold 7% to Wilner.

Hefts Heisuv has been relatively inactive recently, but earlier this month its subsidiary Hefts Renewal saw a dramatic 41% stock drop, losing 330 million shekels in value after an institutional investor reportedly sold shares aggressively. The stock partially recovered after Hefts Heisuv bought 9 million shekels worth of shares in the subsidiary, which it owns 73% of and which is valued at 700 million shekels.