Electra Real Estate Ltd. is one of the leading real estate companies in Israel. The company was established in 1994 and developed the Omega Building in Haifa. Electra has been operating overseas since 1997 and the major growth in the company’s activities has taken place over the past three years. Electra Real Estate had a successful public offering on the Tel Aviv Stock Exchange in August 2005 and its shares are included in the Tel Aviv 100 Index and the Tel Aviv Real Estate 15 Index. The company is ranked A+ by Maalot. Electra Real Estate owns approximately 110 assets, which are leased with four more projects being developed. Total assets owned by the company amount to 1,116,000 sq.m., of which 94% are overseas and 6% in Israel. Areas of Operation Electra Real Estate operates in Israel and overseas in the income-producing commercial property sector including office buildings, shopping malls, logistics centers and hotels. At the same time, the company is also active in Israel and abroad in developing office and residential projects.
In Israel, the company owns eight office buildings and an additional six floors of offices including: Omega Building Haifa; Ayalon Business Center in Tel Aviv leased to the Israeli government; Ziviel Building in Ramat Hahayil, Tel Aviv leased to Comverse and Alvarion; buildings in Ra’anana leased to Emblaze and SAP; and the Kodak building in Petach Tikvah. Electra Real Estate is developing a project on the Tel Aviv seafront (sea-one Project), which will include 250 hotel rooms, leased to Movenpick for 15 years, and an additional 70 exclusive apartments for sale.
Project website: http://www.seaone.co.il/.
UK: Electra owns six office buildings with long-term leases to the British government, banks and insurance companies. The company also owns 10% of a fund, which has acquired 16 hotels in the UK, which are leased to the Hilton chain for 30 years and 10% of a fund, which has acquired 47 hotels in the UK, which are leased to the Marriott chain for 30 years
US: Electra owns seven office buildings in various US cities including Cleveland, St. Louis, Atlanta, Louisville and Chicago. The buildings are rented on long-term leases for various periods. The company owns 60% of an apartment building in Manhattan, New York, which includes 128 apartments for rent. Within the framework of a change of status, the building will be converted to a condominium and the units will be sold.
Canada: Electra operates in Montreal, Toronto and Winnipeg.
In Montreal, the company owns ten office buildings in the city center and a logistics center, which is rented on a long-term lease to the Molson beer company.
In Toronto, the company owns four office buildings, one of which is a 25-floor building leased for 10 years to the Zurich Reinsurance Company and the Canadian Government.
In Winnipeg, the company owns two office building.
Germany: The company owns 54 income-producing properties, of which nine in Berlin are leased to Deutsche Poste–on long term lease. The company also owns buildings in Hamburg, Nuremberg, Frankfurt, Berlin, Dusseldorf, Munich, Rostock, Koln and Saarbrucken.
Switzerland: The company owns two buildings in Zurich, one is leased to Philips and the other is leased to Swisscom: a communications company. The company owns one buildings in Geneva.
India: The Company purchased, along with a local partner, three plots of land in the city of Hyderabad, India. One plot, covering an area of some 33 acres, is near the new city airport and it is designated for about 300,000 sq.m. of office & logistic buildings. The second plot, covering an area of some 30 acres, is near to the city center and it is designated for about 2,400 houses.