Real Estate

Real Estate

The Real Estate Department of Eitan, Mehulal & Sadot provides comprehensive legal advice to companies and private entities in all aspects of real estate, including complex sale transactions, income-producing real estate transactions, business properties, compensation for expropriation, land taxation, registration of transactions and rights, new land registrations, and having condominium orders issued and recorded in the Condominiums Register.

 

Professional representation by a leading team

The department represents leading construction companies in the real estate market, including 'Bonei Hatichon', Z.M.H. Hammerman, Ashdar and prominent real estate developers in Israel and overseas. The department has special expertise in the arrangement of land ownership for agricultural communities, kibbutzim and moshavim, in the context of lease arrangements with the JNF and the Israel Land Administration and the representation of Gush Katif evacuees. The department provides professional and dedicated service, drawing on the extensive knowledge and experience of the department's attorneys, working together with the firm's other professional departments.
 

In addition, in the past years, the department advises developers and apartment owners in dozens of different urban renewal projects. Our attorneys are market leaders in all aspects of urban renewal, particularly in transactions under National Outline Plan (N.O.P.) 38, redevelopment and combination transactions of all types.
 

Advising real estate companies, developers and buyers
 

The department specializes in advising real estate companies, developers and buyers, primarily:

  • Sale agreements for new projects – conducting negotiations vis-à-vis apartment buyers, providing immediate response to companies and buyers on legal issues during the project, managing housing company ledgers, and registering buyers' rights following the issuance of a condominium order.
     
  • Extensive and precedential legal representation and legal proceedings regarding the grant of ownership rights for land restored from the JNF and the ILA.
     
  • Redevelopment projects – advising redevelopment projects from the moment of incorporation, negotiating with potential developer companies, preparing complex agreements for vacation of the old buildings and supporting the project until completion and handing over of apartments.
     
  • Transactions according to N.O.P. 38 – providing guidance and support to projects according to N.O.P. 38, identifying the appropriate companies for performance of the project, checking the developer/contractor's financial strength and business experience, shaping the legal aspects of the transaction, including tax aspects, negotiating the agreement and supporting the project until finalization of the condominium order amendment.
     
  • Establishment of industrial parks – advice for and support of projects for the development and construction of industrial parks in the context of the MOITAL’s program for the development of industrial zones. Legal counsel for developers, handling of land allocation, drawing up of contracts for the developer companies, and counsel for the project until the handing over of lots to industrialists.
     
  • Purchase groups – legal advice and drafting of agreements, including on relevant tax aspects.
     
  • Drafting sale agreements for previously-owned apartments – maximizing the transaction's potential and providing counsel and support until completion of the relevant registration, including complex transactions in bankruptcy or receivership contexts.
     
  • Advising construction supplementation and improvement projects – supporting condominium tenant groups with respect to the construction of communal building supplementations and improvements, such as apartment protected space or balconies.
     
  • Representing land owners in registration proceedings and expropriations – advising land owners in extensive expropriation proceedings throughout Israel, including counsel and support regarding land assessment, legal proceedings, planning committees, tax planning.
     
  • Legal advice for due diligence investigations in issues of real estate companies and income-producing real estate companies.

Read more about our real estate practice regarding urban renewal

 

 

Examples of the department's work:

  • Redevelopment transaction for the demolition of 120 residential units and the construction of 520 new units at the site.
     
  • NOP 38 transactions in Ramat Gan, Petach Tikva, Raanana, Tel Aviv, Herzliya, Bat Yam and Rishon Lezion.
     
  • NIS 10 million sale transactions in luxury residential towers in Tel Aviv.
     
  • Drafting and negotiating all agreements of Z.M.H. Hammerman Ltd. at the Yaara project in Tsur Yitzhak.
     
  • Representation in a tens of millions shekels’ worth sale of an office building in Tel Aviv.
     
  • Representation of a financial institution in the purchase of a NIS ~20 million worth commercial building in Jerusalem and lease thereof to a representative office of a foreign state.
     
  • Sale transaction of a Cyprus hotel.
     
  • Advising and representing "alternative settlement" groups in the Gush Katif evacuation.
     
  • Advice for municipal companies and municipalities on the expansion of industrial zones.
     
  • Advising and representing land owners in the expropriation of 1,880 thousand sqm for the Maccabit road.
     
  • Establishing and raising $15 million for a fund investing in income-producing properties in the USA.

 

The Department’s Partners:

 Noam Wiess