Melisron expands residential operations with full ownership of Aviv Yizum

Melisron, a leading rental property company in Israel, announced a significant acquisition, further cementing its footprint in the residential sector. The company, controlled by Liora Ofer and headed by CEO Ofir Sarid, has acquired an additional 50% stake in Aviv Yizum from the Aviv Group for NIS 635 million, bringing the total corporate value of Aviv Yizum to NIS 1.25 billion. With this deal, Melisron will hold full ownership of Aviv Yizum. The acquisition is planned to be completed on October 31, 2024.

This strategic move marks a significant step in Melisron's broader plan to diversify its real estate portfolio, which already includes retail and office properties, by reinforcing its presence in the residential sector. Melisron sees excellent potential in Israel's urban residential market, which has experienced rapid growth in recent years. 

Aviv Yizum, a prominent player in Israel's residential construction and urban renewal market, has long been recognized for its real estate development, construction, and sales expertise. The company is mainly known for its urban renewal projects, making it a valuable asset for Melisron's future growth in the sector. Aviv Yizum's leadership under Doron Aviv and Dafna Har-Lev has positioned the company as a trusted name in residential development. However, under the terms of the acquisition, the former owners will adhere to a non-compete clause, preventing them from engaging in urban renewal projects for several years.

Aviv Yizum manages approximately 3,600 residential units across some of Israel's most sought-after cities, including Tel Aviv, Givatayim, Ramat Gan, Herzliya, and Holon. The company's flagship projects, such as the Histadrut Project in Givatayim, Shechakim in Herzliya, and developments in Tel Aviv, like Maoz Aviv and Tebenkin, reflect its solid standing in the market.

With Melisron's backing, Aviv Yizum is expected to accelerate its growth trajectory. The synergy between the two companies will likely lead to increased investor confidence and broader expansion within Israel's competitive residential sector. Melisron's robust financial standing and extensive real estate experience are poised to elevate Aviv Yizum's market presence.

Regarding leadership, Dafna Har-Lev, CEO of Aviv Yizum, will stay on for three months following the acquisition to ensure a smooth transition. Melisron's CEO, Ofir Sarid, will continue to chair Aviv Yizum's board of directors.

Speaking about the acquisition, Sarid remarked, "Today's acquisition of Aviv Yizum marks a significant milestone in Melisron's mission to strengthen our residential operations. Combining Aviv Yizum's experience with Melisron's capabilities will position us as leaders in residential development and urban renewal in Israel."

Legal representation for the acquisition included attorneys from Gornitzky & Co. for Melisron, while Shimonov & Co. and H. Noam & Co. Law Offices represented Aviv Yizum.