Disney’s investment arm, Shamrock, stakes claim in Israeli urban renewal

The company is purchasing 12% of Angel Invest, which is involved in the construction of more than 4,000 housing units throughout the country.

 Stanley Gold, President and Chief Executive Officer of Shamrock Holdings. (photo credit: Shamrock PR)
Stanley Gold, President and Chief Executive Officer of Shamrock Holdings.
(photo credit: Shamrock PR)

The Shamrock Company – the investment arm of the Disney family – has joined Leumi Partners, investing in the urban renewal company Angel Invest, one of the largest urban renewal companies in Israel.

As a result of the NIS 70-million deal, Shamrock will own 12% of the company, which is valued at approximately NIS 570m. As part of the agreement, Shamrock will be given an option to increase its holding by an additional 5% at the same value.

A year and a half ago, Leumi Partners – Bank Leumi’s investment arm, managed by Avi Ortal – invested NIS 60m. in Angel Invest through equity and debt, and reached a 20% holding in the company. Now, with the entry of Shamrock into Angel Invest, Leumi Partners will hold about 18%. Shamrock was represented in the transaction by attorney Lila Chertov from the office of attorney Gross Hodak & Co., and Angloinvest was represented by attorney Gal Hat.

 Avi Ortal, CEO of Leumi Partners. (credit: Oren Day) Avi Ortal, CEO of Leumi Partners. (credit: Oren Day)

Shamrock Holdings sees the need to expand supply of apartments

Shamrock Holdings, headed by Stanley Gold, recognizes the opportunity presented by urban renewal, in light of the need to expand the supply of residential apartments – especially in areas of high demand. Founded in 1978, Shamrock is considered one of the oldest foreign investors in Israel, having invested in corporations such as Koor, Bezeq, Pelephone, Tadiran and dozens of other Israeli companies. In the last five years, the firm has focused on investments in Israel including Teva Navot, Cinema City, Bon-Tor and Polymer Logistics, through its own established investment funds.

Angel Invest Urban Renewal is a subsidiary of the Angel Invest Group, the real estate arm of Angel. The company, one of the largest in Israel in its field, is involved in the construction of more than 4,000 housing units in about 30 projects at various stages in Hod Hasharon, Herzliya, Jerusalem, Givatayim, Ramat Gan, Tel Aviv, Ashdod and elsewhere.