SELLA CAPITAL

Sella Capital: Beit Mani, Moshe Aviv, and the Office Transition Test of 2026-2027

Offices stop dragging Sella Capital only if Beit Mani starts turning valuation into NOI while Moshe Aviv gets through the Mizrahi Tefahot rollover without giving back too much of the earnings base it still provides today.

Follow-up

Sella Capital: How Much of the Growth Actually Reaches Shareholders After the External Manager

At Sella Capital, the external manager did not erase 2025 growth, but it still takes a meaningful share of the economics available to common shareholders, and the updated agreement keeps the manager exposed to almost every major growth engine.

Follow-up

Sella Capital: The All-In Economics of Kfar Saba HaYeruka After Tax, Funding, and Mix

The Kfar Saba HaYeruka acquisition adds a high-occupancy mixed-use asset to Sella Capital, but its true economics are lower than the 7% headline. After NIS 42 million of purchase tax and transaction costs, the entry yield falls to about 6.5%, and the spread over funding cost loo…

Sella Capital Real Estate 2025: NOI Is Still Rising, but 2026 Is a Bridge Year Between Beit Mani and Kfar Saba

Sella Capital enters 2026 with a stable portfolio and a strong balance sheet, but the coming year is a bridge year in which the real question is no longer whether NOI keeps rising, but whether Beit Mani, the Mizrahi Tefahot space, and the Kfar Saba acquisition start producing cl…