Maccabi Healthcare Services has rented 5,000 sq.m. in a Bat Yam building from Synopsis. The 10,500 sq.m., nine-storey building was built by Synopsis. Rent is 13.75% of turnover in a ten-year lease with a ten-year option. The lease for part of the space came into effect a few months ago, and the rest just became valid recently.
Synopsis will also provide Maccabi with management, maintenance and other medical services, for which Maccabi will pay expenses plus 7.5%.
A Maccabi subsidiary, Golden Tower, rented the space, where it will create a 198-bed hospitalization, nursing and geriatric rehabilitation center. The building will be added to the Maccabi hospital system. The building is adjacent to a private hospital managed by Synopsis.
Construction of 96 protected apartments for the elderly in the remaining 5,500 sq.m. of the building is just now being completed.
Synopsis is controlled by Dr. Mordechai Paz. Synopsis operates through several subsidiaries, including Medical Care Towers, MRB Independent and MRB Medical Center. Bank Hapoalim is providing financial coverage for the project.
Published by Israel's Business Arena on 30 December 2001