This week at Avison Young Israel, we dealt extensively on the tension between real estate and accounting, specifically the issue of recognizing expenses. (If this sounds like a foreign concept, fear not, and I suggest waiting for the post next week on the next subject).
One of our clients closed a significant transaction in which they rented a very large premises (thousands of Sq. M) for a lengthy duration (more than 10 years). They encountered a significant challenge, resulting from a relatively new accounting standard that affects financial reporting, expense recognition, and the presentation of the annual budget.
We highly recommend that companies ensure that their finance experts in the organization be fully aware of this issue and consult accordingly. We are pleased to provide more information based on our experience with respect to possible solutions.
Israeli commercial real estate deals
New boutique hotel opens on Tel Aviv’s Allenby Street (Globes).
SUMMIT REAL ESTATE HOLDINGS LTD is buying a 178 rooms hotel at Time Square.
ELECTRA REAL ESTATE LTD is selling a portfolio of properties at Atlanta, Gorgia.
Commercial Real Estate Opportunities:
For sale 2,200M2 commercial building in Petah Tikva, in the center of Israel.
For sale one floor (1,150M2) out of five, in a comercial building in the center of Tel Aviv.
For Sale in Tel Aviv 600M2 floor, (one out of 4) + 13 parking spaces.
For lease, in Alon Tower Tel Aviv 156M2 office space, high floor, 5 rooms.
For lease, in Or Yehuda, 600M2 office space ready to occupy.
For lease, in Petah Tikva 1,700M2 office space ready to occupy.
The purpose of this Newsletter is to update you with Commercial Real Estate information related to companies from Israel. The information contained herein does not constitute an opinion or professional advice. It is recommended to use the information detailed in this Newsletter only after consultation with the appropriate professional consultants from our office.
Propertech Real Estate is a commercial real estate boutique, a leader in providing professional and unique brokerage services for office spaces, logistics spaces, commercial buildings, brokering and negotiating investment real estate transactions, land, etc,
managed by Avi Gimpel and Guy Amosi.