Amot Investments Ltd. is a leading Israeli public company in the income producing real estate sector and is the Israeli investments arm of Alony-Hetz Properties and Investments Ltd. The company manages, leases, maintains and develops income producing assets in Israel. In 2006, Amot held a public offering on the Tel Aviv Stock Exchange and by 30.9.13 had raised NIS 3.9 billion in stocks, bonds and warrants. The company owns 93 assets in Israel, leased to about 1,500 tenants, which cover 913,000 square meters including 263,000 square meters of parking lots. Assets include office buildings, shopping malls, commercial centers, supermarkets, industrial parks, logistics centers, and central bus stations. Amot’s assets total about NIS 7.5 billion. Most of the company’s properties are located in the center of major cities and in sought after areas and consequently the occupancy rate for these assets is high and stable at over 95%. The company ended 2012 with a net profit of NIS 217 million and net operating income (N.O.I.) of NIS 458 million. As of 30.9.13 the company had equity totaling NIS 2.8 billion comprising about 36% of the total balance and about NIS 5.2 billion of unpledged assets.
Business and Acquisitions Strategy
Amot is striving to expand its activities in Israeli income producing real estate by acquiring and developing assets and forming mergers with other corporations active in the field. In 2010, the company acquired several assets, such as 66.67% of the rights of Beit Pelephone in Givatayim covering 18,000 square meters. With the completion of the acquisition, the company holds full rights to the asset. Other assets are the Cargal site in Lod Northern Industrial Zone, with buildings totaling 47,000 square meters; Center Hagalil in Rosh Pina with 6,000 square meters of commercial space and a gas station; a 7,600 square meter lot bought with Gav-Yam on Tozeret Haaretz St., Tel Aviv, which is adjoined to a lot already owned by Amot, together comprising a 10,800 square meter lot, where the companies are planning to build an office and commercial complex. Amot also acquired “Nes-Pan” which owns three assets in Israel: B7 in Beer Sheva, 23,400 square meters of shopping and leisure centers; Neve Zeev Center in Beer Sheva with 8,200 square meters of commercial space, offices, clinics, and high-tech; office complex in Beit Dagan covering 19,200 square meters built and leased, and rights to build another 10,000 square meters building. In 2011, the company acquired two major assets, including: a modern logistics center in Modiin with 26,000 sq.m. of buildings for NIS 160 million; full rights for a 12,000 sq.m. industrial building in the Caesarea Industrial Park for NIS 41 million. The asset is leased to a single tenant on a long-term lease. In 2012-2013, the company made a number of strategic acquisitions of assets rights that were previously partly owned such as: 63% of the Rehovot park so that after the acquisition the company holds 91% of the asset, 50% of the Ashdod commercial center so that after the acquisition the company fully owns the asset, and 50% of the Century Tower car park in Tel Aviv. The company also acquired: HP’s R&D Center in Yehud industrial Zone comprising three office buildings; and Clal House in Tel Aviv. Between 2009 and 2013 the company acquired 16 assets in Israel for about NIS 2 billion covering over 300,000 square meters.
Amot has land reserves available for development on which the company will gradually develop projects according to ongoing analysis of the market situation and level of demand. The company is building large office projects in Petach Tikva, Ramat Gan and Beit Dagan. In addition, the company has another seven projects in development, planning and enhancement stages.
Shopping Malls, Commercial Centers and Supermarkets
Amot’s shopping malls are in city centers and are major leisure centers attracting thousands of customers. The company owns 12 successful shopping malls and commercial centers. Amot also owns 37 assets used as supermarkets mainly in city centers and the center of the country, leased to Blue Square, Shufersal and Co-Op Israel.
Smart Investments in Successful Projects
Amot invests in assets in a range of uses focusing on demand areas, which provides the company with a broad spectrum of opportunities alongside managing calculate risks and stability in crisis periods. About 70% of the value of these assets is located in the central region, which has Israel’s highest and most stable demand and enjoys tenant preference.
Financial Strength and a Sterling Reputation
Amot believes that the important ingredients for real estate success are know-how and experience in the marketing, management and operation of assets, a rapid and reliable response to tenant requirements, a geographic distribution of investment risks, financial strength, full management transparency for the capital market and public, the ability to identify business opportunities, and rapid response and decision making.