DUN'S 100 - 2016

186 / 730

Construction & Real Estate
186
2016 | DUN’S 100 DUN’S 100 | 2016
DUN’S 100 | 2016 2016 | DUN’S 100
4 Yielding Real Estate
RANK
Alony-Hetz Properties and Investments Ltd.
Alony-Hetz is one of Israel’s leading in-
come-producing real estate companies.
The company focuses on investments
in income-producing properties in western de-
veloped countries through holdings that give it
substantial influence on local real estate compa-
nies. The group invests in offices and commercial
centers, while seeking geographical diversity and
a broad base of tenants.
The company implements a cautious investment
policy, spread across five western countries, cur-
rencies and economies, maintaining low leverage
and high liquidity, which has led to consistent,
stable growth in FFO and impressive growth in
net profit in recent years. The company is traded
on the Tel Aviv Stock Exchange (TASE) with NIS
4.6 billion equity, by the end of 2015. Net profit
in 2015 was NIS 548 million. The leverage rate
in December 2015 was 39%, with over half of in-
vestments not subject to liens. The company has
distributed a dividend every quarter for over 18
years and declares the annual dividend ahead of
time that it intends to distribute every quarter.
Diversification Growth-Focused Strategy
The Group’s operations (assuming full consolida-
tion) include about 437 assets, 8,100 tenants,
and 4.2 million-sq.m. of leasable surface space.
This generates NIS 2.9 billion NOI annually, NIS
1.9 billion FFO, and annual dividends of NIS 1.6
billion of which the company’s direct share is
NIS 350 million.
Details of Activities
Alony-Hetz currently operates in five countries:
USA (29%of the balance sheet of the investments
portfolio by the end of 2015), Switzerland (25%),
Israel (25%) and Canada (8%). The company also
has activities in an investment funds group in
the UK (8%) and in Poland in the framework of
project investments for the purpose of electricity
produces by wind turbines (4%).
Activities are implemented through substantial
holdings in the following companies:
Amot – Israel (Alony-Hetz holds 60.8%): Amot,
an Israeli public company, is Alony-Hetz’s invest-
ment arm in Israel and holds, leases and devel-
ops income-producing real estate assets mainly
in central Israel (68% of properties are in the Tel
Aviv Metropolitan area). Amot owns 96 build-
ings with 697,000-sq.m. leased space worth
about NIS 8.8 billion, with 97% occupancy. As
of December 2015, Amot is also in the process of
developing three properties with the company’s
share totaling 70,000-sq.m.
PSP – Switzerland (Alony-Hetz holds 12.2%):
Alony-Hetz’s Swiss operations and holdings are
focused on PSP, which is one of the largest real-
estate companies traded in the Zurich Stock Ex-
change. PSP’s equity in December 2015 was 3.9
billion Swiss Francs and it owns 161 income-pro-
ducing Swiss properties covering about 900,000
sq.m. and worth about 6.7 billion Swiss Francs.
66% of PSP’s properties are offices. 75% of PSP’s
portfolio is in Geneva and Zurich. PSP has an
international credit rating of A- by Fitch. Alony-
Hetz is PSP’s largest shareholder and its only
related interest party.
CARR PROPERTIES – USA (Alony-Hetz holds
44%): CARR invests and develops (including
management and maintenance) office build-
ings in the Washington DC metropolitan area.
The company has joint control agreement with JP
Morgan who holds a similar equity stake to that
of the company. CARR holds 18 office buildings
with a leased area of 287,000 sq.m., and worth
$1.5 billion. The leasing rate in the end of 2015
was about 89%. CARR owns 3 office buildings in
stages of construction with about 113,000-sq.m.
of leasable space and a construction budget of
about $860 million and was worth $340 million
by the end of 2015.
Energix Renewable Energy Ltd. – Israel (Alony-
Hetz holds 71.4%): A public Israeli company,
engaged in selling electricity in Israel and in Po-
land. This electricity is produced by photovoltaic
and wind systems, which the company created
in the installed capacity of 160 MW. In addition,
the company develops wind projects in Israel,
producing about 292 MW. The company’s market
value is NIS 937 million and by the end of 2015
its equity was NIS 515 million.
Brockton Capital – Britain: Alony-Hetz invests in
Brockton Capital, a real estate investment funds
group, investing in a wide range of real estate,
mainly in London.
Community Activities
Alony-Hetz contributes and invests in Israeli com-
munity activities focused on education.
Amot-Atarium Tower, 2 Jabotinsky St.,
Ramat Gan 5250501
Tel: 972-3-7521115
Fax: 972-3-7514730
Esta b l i s h e d
1989
L i n e o f B u s i n ess
Income-Producing Real Estate
l e a d i n g e x ecu t i v es
Aviram Wertheim Chairman of the Board
Moti Barzilay EVP Business Development
Oren Frenkel CFO
Hanan Feldmus Legal Counsel & Company Secretary
Nathan Hetz
Founder, CEO and
Board Member *
Atrium Tower - Ramat Gan - Amot 901K - Washington - CARR 1700 NY - Washington - CARR
* See Top Executives Profiles - Page 582