GT Real Estate announced that it has signed an agreement to acquire full rights to the Rosh Pina Mall from Ashtrom Properties, including the adjacent parking lot and the land on which they are built, for approximately NIS 48.5 million.
The mall includes approximately 4,750 square meters of commercial space and currently generates an NOI of about NIS 3 million per year. According to GT Real Estate estimates, the expected NOI following the acquisition and upgrading of the property will stand at about NIS 5 million per year. Among the chains currently operating in the complex are Tamnoon, Renuar, and TWENTYFOURSEVEN.
This transaction signals the company's expansion into the northern region, following previous operations centered primarily in southern Israel, including in Sderot, Netivot, Ofakim, Eilat, and Jerusalem. About two months ago, the company received a permit to establish the GT Galil commercial center in neighboring Hatzor Haglilit, covering an area of approximately 6,600 square meters. Construction work on that project is expected to begin in the near future, with occupancy scheduled for the end of 2027.
Upon completion of the transaction, the number of commercial centers owned by the company will stand at 9 yield-generating properties, alongside additional properties in various stages of construction.
Gabriel Trabelsi, chairman and owner of GT Real Estate, stated: "The acquisition of the Rosh Pina Mall joins a series of moves we have been leading recently and illustrates the company's growth and expansion trend."