Timora real estate fund has appointed Sagi Cohen CPA as the fund’s new CFO. Cohen (42) has more than 15 years of experience in the income producing real estate market in Israel and Poland, having previously served as CFO of Giron Development and Construction, whose bonds are traded on the Tel Aviv Stock Exchange (TASE). He served in the position for 13 years between 2009 and 2022. As part of his role, Cohen was responsible for conducting complex transactions involving real estate purchasing and financing for major amounts.
As part of his job at the Timora fund, Cohen will manage the field of finance including sharing in the responsibility for leading and examining business and economic viability of the fund’s business development processes, including preparing forecasts, reports and analyses, building budgets and work plans, managing the fund's credit policy and managing the relationship with the banking system.
The position also includes supervision of the finance department responsible for preparing financial reports, managing, building and controlling the budget, managing cash flow, managing all the fund’s expenses, managing the payments system to suppliers and managing overall payment collection activity from customers and routine controls.
Timora Fund, which was founded in early 2022, focuses on the purchase, enhancement and management of office, industrial and logistics properties in Israel, and is building a real estate portfolio worth NIS 1.5 billion. Timora is active in Haifa, Lod, Rosh Ha'ayin and Ra'anana, holding about 130,000 square meters and plans to expand its activities to other areas of the country.
Timora Fund is led by co-CEOs and cofounders David Najmi and Adv. Guy Shaya. The fund has successfully achieved its first target by raising NIS 500 million. Clal Insurance and Finance, Mizrahi Tefahot Bank, Amitim Pension Funds, and private investors and family offices, among other, participated in the financing round. Oded Shamir serves as Timora Fund’s Chairman, having served in the past as CEO of Industrial Buildings, Jerusalem Economy, Azorim Properties and Chairman of Netivei Israel National Transport Infrastructure Co.
The Head of the Fund’s Investments Committee is Roy Yakir, formerly Chief Investment Officer of Clal Insurance, and Deputy CEO and Chief Investment Officer of the Phoenix. The Investment Committee’s members include Dan Derekh, who served among other things as Director General of the Ministry of Trade and Industry and as a Director of IBI, and Adv. Yonatan Altman, who also serves as Chairman of the Amit, Pollak, Matalon (APM) & Co. law firm.
Published by Globes, Israel business news - en.globes.co.il - on September 30, 2024.
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