Advs. Guy Sagiv, Avi Schoen, Guy Fatal and Yehuda Attar, together with by David Akrish, Ofir Levy, Ofir Paz, Tal Alon and intern Shir Shapira, represented a client in the sale of a plot to Migdal, Acro and Tidhar for NIS 304.9 million on Hatzfirah Street in Tel Aviv. The plot will be used to establish a combined project for commerce, housing and offices.
Advs. David Schapiro, Ezra Gross and Evyatar Katz, with the assistance of Asaf Eylon, Eran Lempert, Avishai Oberman and Nir Kamhi, represented Kaylen Sherman, a Canadian businesswoman, in purchasing a 50% stake in the Herzliya Ritz Carlton Hotel from Adi and Irit Strauss for approximately NIS 150 million. The other 50% remains in the hands of the Tidhar Group, which built the hotel that was opened in 2014 and is now reported to be valued at about NIS 300 million.
Advs. Nir Rosner, Roey Sasson and Amnon Lorch represented the Arena Group in a lawsuit in which businessman Roni Mana sought a brokerage fee of NIS 6 million for the sale of the Arena Mall in Herzliya to Reality Investment Fund. The lawsuit was dismissed and the plaintiff was ordered to pay NIS 160k - a fairly high and unusual amount - to the Arena Group.
This judgment summarizes the main practices of real estate brokerage and details why unjust enrichment is not an alternative remedy in cases where a brokerage fee should not be paid.
Advs. Hagit Bavly, Elad Morgenstern and intern Ran Aziel represented Migdal Insurance and Financial Holdings Ltd. in the NIS 223 million purchase of the Elbit Systems land and offices in the new Netanya industrial zone.
BDI Coface 2019 Quality Ranking top ranks Yigal Arnon & Co. in 5 more practice areas: Restructuring & Insolvency, Real Estate, Planning and Construction and Tax, and under "prominent leaders" in Telecommunications.
Advs. Amalia Meshi, Naftali Nir, Michal Sagmon-Cohen and Lareine Khoury represented Azorim Group and Ofer Investments in a rental agreement, in which Noble Energy will rent office space from Azorim for a period of 10 years, which includes 9 floors of offices and 13,000 sq.m. in the Herzliya Hills Complex.
Advs. Amalia Meshi, Naftali Nir and Nir Rodnitzky represents Azorim Construction (1965) and the Gabbay Group in the purchase of 45 acres of land in Kfar Shalem area in Tel Aviv for the purpose of building approximately 1,300 - 1,500 housing units as well as commercial space. In exchange for the land, Azorim and the Gabbay Group will pay the owners of the land 30% of the proceeds from the sale of the apartments and 38% of the proceeds from the commercial areas in the project. The project will be one of the largest construction projects in Tel Aviv, with an estimated value of NIS 3 billion.
Advs. Amalia Meshi, Adam Spruch, Assaf Mesica, Naftali Nir, Goor Koren, Ravid Saar, Lareine Khoury and the intern Natalie Kornfeld represented Harel Insurance and Finance Group, in a NIS 1.2 billion refinancing deal for the Ampa Group. Ampa Group will repay its existing debts to Bank Leumi, Menorah Mivtachim and Clal Insurance, and will also make investments in new assets and improve existing properties.