Australia Israel (TASE: AUIS) is in talks to sell the M Haderech Mall and a recently completed commercial center in Afula. The company, controlled by Evan and Ricky Neumann and Shlomo Akrish (78%), acquired the M Haderekh Mall, located near the Yanai interchange on the Coastal Highway (Road 2), just four years ago.
It is believed that Australia Israel, which has a market cap of NIS 87 million, has decided to sell off the company's operations before the expected merger with income producing real estate company Aspen Group (TASE: ASGR). The sale will help it finance part of the acquisition of a 29% controlling stake in Aspen.
As part of the sale process, Australia Israel published an invitation in the financial media for potential buyers to make offers to purchase the two properties, which have an estimated value of about NIS 304 million in the company's books. The two shopping centers put up for sale constitute Australia Israel's main activity, alongside its existing holding in Aspen.
The M Haderech Mall, on land belonging to Moshav Beit Herut, midway between Tel Aviv and Haifa, covers 17,500 square meters, and is valued in the company's books at about NIS 164.5 million. In 2024, the mall, which is fully occupied, generated revenue of NIS 14.6 million and NOI (net operating income) of NIS 10 million. The Blue Valley commercial center in Afula, close to HaEmek Hospital, is a shopping and cinema complex (operated by the Mobiland chain) and is valued at NIS 140 million. Australia Israel purchased the property, which began commercial operations began last June, for about NIS 144 million.
Towards the end of 2024, Australia Israel completed the acquisition of control of Aspen from businessman and tech entrepreneur Roni Zarum, for NIS 237 million. The purchase of additional shares resulting from the exercise of options by former chairman Guy Pereg and Aspen company secretary Keren Ben Zvi brought the amount of consideration that Australia Israel is to pay to about NIS 261 million.
Published by Globes, Israel business news - en.globes.co.il - on January 26, 2026.
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