American businessman increases stake in Israeli real estate giant to 8.2%

A little over a week ago, Morris Vilner became a stakeholder in the real estate company Hachsharat HaYishuv. Vilner acquired a significant portion of the company controlled by Ofer Nimrodi. In less than a week, he purchased shares worth nearly 120 million shekels, with more than half of that volume acquired from the Phoenix company. The price paid by Vilner was 40 shekels per share, compared to the current market price of 39.33 shekels, bringing his initial stake to 7.5%.

However, Vilner has not stopped there. Over the last 24 hours, he further increased his holding in the company, which focuses on income-producing real estate and operates the subsidiary Hachshara Urban Renewal. By purchasing an additional quarter of a million shares for 10 million shekels, he has raised his total stake to 8.2%.

Vilner, a Florida resident, primarily builds in the USA and has a strong presence in the housing complex sector. He also owns gas stations and holds shares in the companies Amot and Yam. Vilner is making this move at a time when the real estate market is stagnating and the income-producing sector is under pressure due to high interest rates. He believes the market is poised for a breakthrough, and it appears that the recent interest rate cut influenced his decision.

Hachsharat HaYishuv operates in both Israel and Poland, focusing on commercial centers and logistics assets. The company's market value currently stands at approximately 1.59 billion shekels. Since the beginning of the year, its stock has fallen by 1.5% following a 13% correction in July. Hachshara Urban Renewal has seen its stock decline by more than 5% year-to-date, with a market value estimated at about 944 million shekels.