Real estate investment fund Reit1 recently announced the appointment of Yekutiel Gavish as a director in the company in place of Ehud Gat, who is finishing his term.
Gavish, 75, is an active capital market veteran already serving as a director in other companies, including Leader Investments, Ratio Oil Exploration, and Carasso Motors.
Reit1 is listed on the Tel Aviv Stock Exchange at a NIS 3.7 billion market cap, after climbing 55% to a new peak this year.
Reit1 currently has 45 income producing properties with 554,000 square meters in aggregate space worth a total of NIS 5.3 billion. The space is almost fully occupied. Reit1's CEO is Shmuel Sayad, and its chairman is Dror Gad.
An increase in its collection of portfolio of properties and the beginning of full proceeds from a property on Manofim Street in Herzliya increased Reit1's revenue by 9% to NIS 165 million and its net profit by 23% to NIS 122 million in the first half of 2019.
Published by Globes, Israel business news - en.globes.co.il - on September 2, 2019
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