News| Hagar Peleg
Gornitzky represents Altshuler Shaham Investment House in an up to NIS 90 million credit facility to "Nethaniel Group". The funds will be used, inter alia, to the construction of an office and commercial complex, located in the city of Holon, Israel.
The Loan Agreement includes a one year credit line; in an aggregate sum of NIS 45 million starting 2016 and a long term loan agreement will replace it subject to the fulfillment of several conditions precedent. The total credit facility that will be provided by Altshuler Shaham will be up to 90 million NIS.
The construction is expected to be completed by the end of 2016, and the estimated annual revenue is expected to reach NIS 10 million.