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AmramIn 2025, Amram did not generate profit only from revaluation, but a large share of the improvement versus 2024 did come from that line. Without fair-value gains, pretax profit would have been only NIS 170.0 million, while net finance cost stood at NIS 111.9 million and financial…
Penthouse's 2025 valuation jump rests mainly on an approximately ILS 1.04 billion cluster of development and ramp-up assets that still sit between planning, construction, opening, and stabilization, rather than on assets that have already proven stable NOI and external realizati…
The main gap at Netanel is not between a small pipeline and a large pipeline, but between projects that are already close to revenue and projects that still sit at the permit, signature, or option stage. Modiin is closest to conversion, while Ramat Gan and Beit Dagan are not the…
The Sinco deal pushes Amram deeper into the exact model it had already been building around: urban renewal driven by partnerships and shareholder loans. On paper this is a 50% acquisition, but in practice it adds execution scope and the possibility of capital exposure well beyon…
At the end of 2025 Gaon Holdings was far from breaching the covenants on Series D and Series E, but the parent company's practical margin of safety was much tighter: NIS 14.26 million of cash, NIS 21.45 million of current financial liabilities, and a company forecast that ends 2…
Penthouse’s Series A bond is not close to a technical covenant breach, but its real protection layer is narrower than the equity headline suggests: debt to collateral stood at 69.9% against a 75% warning line, while bank debt, PAI Siam bonds, and hotel cash-flow claims already s…
The problem at Hyde Park is not broad demand weakness but one flooded building, 16 Davis, distorting the occupancy print while both value and financing assume the damage is temporary and repairable.