Sela Capital Real Estate Finalizes 580 Million Shekel Acquisition of Kfar Saba Hayruka Mall

Sela Capital Real Estate expands its portfolio with the 580 million shekel acquisition of Kfar Saba's green mall. Discover the strategy behind this 6.6% yield.

By: AXL Media

Published: Feb 24, 2026, 5:09 AM EST

Source: The information in this article was sourced from Calcalist.

A Major Shift in Regional Commercial Ownership

In a significant move within the Israeli retail real estate sector, Sela Capital Real Estate has officially acquired the Kfar Saba Hayruka Mall for a total of 580 million shekels. This high-profile transaction sees the property transfer from the Shviro Group to the real estate investment trust, which is currently valued at approximately 2.4 billion shekels on the stock market. The acquisition highlights the continued demand for stable, high-performing commercial assets in prime suburban locations. According to Orna Yefet, the deal reflects an attractive annual yield of 6.6 percent, signaling strong investor confidence in the mall's long-term profitability and its role as a regional service hub.

Design and Infrastructure of a Modern Retail Landmark

The Kfar Saba Hayruka Mall, which opened its doors in 2015, represents a 350 million shekel initial investment by the Shviro Group. Designed by the renowned architect Moshe Zur, the facility was conceptualized as a multi-functional complex dedicated to leisure, shopping, and essential services for the surrounding green neighborhoods. Situated on a ten-dunam plot near the strategic intersection of Route 4 and the Kfar Saba-Ra'anana North junction, the site encompasses 18,000 square meters of commercial space. The infrastructure is supported by a large-scale parking facility capable of accommodating 1,000 vehicles, ensuring easy access for commuters and local residents alike.

Sela Capital’s Growing Dominance in Yielding Assets

Under the leadership of CEO Gadi Elikam and Chairman Shmuel Slavin, Sela Capital Real Estate has solidified its reputation as a specialist in the acquisition and management of yielding properties. The addition of the Kfar Saba Hayruka Mall expands an already diverse portfolio that includes major retail centers such as the Honim Konim Mall in Rishon LeZion, Lev HaPisga in Jerusalem, and My Mall in Holon. The fund’s recent financial performance underscores its operational strength, with a reported 6.3 percent increase in Net Operating Income (NOI) during the third quarter of 2025. This growth was largely driven by index-linked rental adjustments and the successful negotiation of higher rates in new leasing contracts.