Jerusalem Building Leased to Colombian Embassy Sold for 9 Million Shekels
Businessman Shmulik Aputa purchased a historic building in central Jerusalem for 9 million shekels, shortly before leasing it to the Colombian embassy for 17,000 dollars a month.
A fascinating real estate transaction highlights the opening of the Colombian embassy in Jerusalem: approximately a week and a half before the embassy inauguration, businessman Shmulik Aputa acquired the building housing it for about 9 million shekels. Shortly thereafter, a lease agreement was signed with the embassy, which will pay 17,000 dollars per month for the property.
According to Calcalist, the property is a stone house located at 8 Rabbi Akiva Street in central Jerusalem, purchased by Aputa through his company "Beit Orim Yozum Proyektim". The seller was Nof HaPark Hadas Capital, owned by businessman Hillel Zoribin. What makes the deal particularly interesting is the price. For about three years, the company tried to sell the building, at one point asking around 15 million shekels, before Aputa secured it for roughly 9 million shekels.
Lease Terms and Property Valuation
Shortly after the acquisition, Aputa secured a tenant. According to Mynet Jerusalem, the Colombian embassy signed a five-year lease agreement with an option for an additional five years. The monthly rent of 17,000 dollars amounts to 204,000 dollars annually and approximately 1.02 million dollars for the first five years.
Real estate appraiser Kobi Beer believes that even without relying on the high rent paid by the embassy, the purchase price was below market value, estimating the building is worth between 14.6 million and 15.7 million shekels.
The property includes approximately 200 square meters built across two floors and a 128-square-meter landscaped courtyard. It features two separate entrances, one used by the embassy and the other by the consulate. However, it is a preserved building subject to strict conservation restrictions, limiting major structural modifications.
Aputa is primarily known for his activity in the parking lot industry. His company "Yamit" owns and operates dozens of parking lots nationwide, including sites at Hadassah Ein Kerem, Mahane Yehuda Market, and the Waldorf Astoria in Jerusalem, as well as the Sarona complex and the Royal Beach Hotel in Tel Aviv.
