Poalim Capital Markets completed an investment of approximately NIS 115 million in the company "Eco City S. L. Entrepreneurship

Poalim Capital Markets, the equity investment and investment banking arm of Bank Hapoalim under the management of Kobi Shalom, has completed an investment of approximately NIS 115 million in the company "Eco City S. L. Entrepreneurship and Construction Ltd." As part of the transaction, Poalim Capital Markets will provide Eco City Credit framework, for the purpose of financing the equity required for the development of the company's project portfolio, which numbers dozens of TMA 38/2 projects. In addition, Poalim Capital Markets acquires 5% of the company's shares at the time of the transaction and will be entitled to convert part of the credit line to another 15%.
"Eco City S to Entrepreneurship and Construction Ltd." is a leading company in the field of urban renewal (TMA 38) in Israel, jointly owned by Shagrawi Leibowitz and Eco City Ltd. (owned by Aharon Shapira, and the joint CEOs Eili Bar and his uncle Reshef).
The company operates in the Tel Aviv area (north of Tel Aviv / Lev Ha'ir / White City) and has completed projects in central and attractive locations. The Urban Renewal Index 2020 (of the Real Estate Center and Madeleine, which analyzes real estate databases), ranked Eco City first among The companies operate in Tel Aviv and second at the national level.
The company began operations in 2009 and is run through two subsidiaries of the same ownership, one coordinating the entrepreneurial activity and the other the field of execution. In the past, the company focused on strengthening and addition projects and as a reflection of the changes that took place in the field of TMA and to leverage its leading position, the company is currently focused on demolition and construction projects (38/2) and they will be included in the financing deal. Construction, architects, marketers and more).
Eran Gersht, Director of Direct Investments at Poalim Capital Markets, said: "We are excited about the opportunity to invest in Eco City, a leading urban renewal company with a professional and experienced management team and strong controlling shareholders. The deal demonstrates our capabilities in complex debt-equity transactions. "We meet the needs of a company such as Eco City in a period of accelerated growth and significant development momentum. The company has a large and high-quality cash flow and we believe that the financing we provide it will help strengthen its position as a leading company and a promising addition to our investment portfolio," said Gersht.
"We are pleased with the partnership formed with Poalim Capital Markets, one of the strongest financial entities in the economy and quality executives who will continue to accelerate the company's growth, and we are confident that this partnership will establish Eco City's status as a leading company in the field of renewal." The municipal in Tel Aviv and Gush Dan. "
Poalim Capital Markets was represented in the transaction by Adv. Orit Israeli, Director of the Commercial and Finance Department at Amit, Polak, Matalon & Co. Eco City was accompanied by Adv. finance.