S.K. Real Estate Appraisal Ltd.

S.K. Real Estate Appraisal is one of Israel’s largest and most experienced, service-oriented and professional real estate appraisal firms. The company employs about 20 appraisers and economists and has been experiencing an accelerated growth trend over the past few years. The company’s success stems from its unique human capital and the longstanding professional and managerial experience of its executives. The company is active in all types of real estate appraisals but specializes and focuses on 2 main practice area, which require extensive professionalism, knowledge and experience:

“Residents’ Appraiser” – Accompanying and Representing Apartment Owners in Pinui-Binui Projects

The company’s main practice area, where its unique experience and vast professionalism are expressed in the representation and assistance to apartment owners in projects which have been designated as “Pinui-Binui”, as the residents’ appraiser. The representation, which is currently provided in dozens of projects across Israel, includes:

• Participation in the developer selection process and accompanying the lawyer who represents the owners in every appraisal aspect in the commercial agreement with the developer.

• Preparing a professional appraiser report for reviewing the economic feasibility of the emerging project, in order to make recommendations for the house delegation about the appropriate considerations from the developers (main areas, balconies/storerooms areas, parking spaces, floors etc.)

• Involvement in the preparation of the rezoning plan by project’s developer and architect.

• Preparing a scoring table for the existing/new units, divided by apartment types – typical, garden, roof, commercial units etc. in accordance with the generally accepted appraisal principles with a personal visit of an appraiser in each and every unit (the purpose of this table is to determine the order by which the apartments in the new project would be selected by the owners of existing apartments).

• Preparing opinion documents on the appropriate rent compensation that the owners of existing apartments should receive during the eviction period and updating the appropriate rent fees by apartment type throughout the project lifecycle.

• Reviewing the schedule and mechanism of division of profits between the developer and the apartment owners.

• Setting a control mechanism for determining the bank guarantee sums that would be provided to the apartment owners.

“Banks Appraiser”

Alongside the company’s vast operations in representing residents, the company is included in the very short and highly-prestigious list of appraisal firms of the highest professional level which are approved as “Bank Appraisers” for commercial projects by Israeli finance institutes – banks and non-bank financiers, including the banks of Poalim, Leumi, Mizrahi, Jerusalem, First International, and Discount, and non-bank financiers, including: Yesodot, Michlol, Expo, Bonus, Leader Top Capital, Arno Capital, Bareket, Capital Platinum, Ruby Capital and more. In addition, the company’s reports are accepted by Israel’s leading insurance companies, including: Clal, Harel, Ayalon, Psagot, Pheonix and Menorah.

In this framework, the company specializes in preparing zero reports and monthly financial tracking reports, in scales of hundreds of projects and thousands of apartments. This activity starts from the feasibility checks before the project, through the zero reports and up to the monthly tracking reports.

Synergetic Expertise

The synergy, as expressed by the unique combination between the two main areas of operations, positions the firm at the heart of the action in Israel’s construction and urban renewal industry and provides it with the knowledge, experience, professionalism and tools for providing optimal service, first and foremost to residents in urban renewal projects, due to the expertise that the firm’s owners have in reviewing the profitability reports of Pinui-Binui complexes in order to verify that the residents receive the maximal consideration alongside with a broad and professional solution for the financiers. Other areas of specialization of the firm are preparing credit guarantees under IFRS 17, 19, 21, 22 and reducing betterment charges.

The Company’s Customer Base

The company’s clientele includes house delegations, leading law firms, including: Cohen-Katzav, Keren, Dahan & Co., Amir Steinhertz & Co., Doron Aries & Co., Yahav & Co., Doron, Tikotzky, Kantor, Gutman, Amit Gross & Co, Ariel Naama & Co., Anat Biran – Law Firm, Shibolet & Co., Sharkon, Ben Ami, Asher & Co., Solovei Law, KGZ, Avi Antabi Law Firm and more. In addition, the firm counseld about urban renewal to the local committees of Bat Yam, Hadera and more, and is included in the list of Land Appraisers of the Government Appraiser. In this framework the firm provides appraisal services the Ministry of Housing, the Ministry of Defense and the Government Enforcement Authority.

Projects: Representing more than 7,000 Apartment Owners in Dozens of Projects Across Israel

The company is handling dozens of Pinui-Binui complexes which include more than 7,000 new apartments. These include the Giborei Yisrael Complex in Ramla - 374 apartments, the Weizmann Av. Complex in Netivot- 460 apartments, the Kennedy Complex in Or Akiva - 607 apartments, HaTapuz Complex in Kfar Saba - 167 apartments, Be’er Sheva, Ahad HaAm Complex- 130 apartments, and dozens of additional complexes in Tel Aviv, Ramat Gan, Ra’anan and Haifa’s suburbs.

Executive Management

Shmulik Cohen – Co-Owner and CEO
The company is headed by Mr. Shmulik Cohen, a certified land appraiser with a Ministry of Justice registration, member of the Israel Real Estate Appraisers Association, lecturer in the Pinui-Binui and Urban Renewal Course in the Real Estate Center College. He holds a B.A. in Economics and Logistics from Bar Ilan University and an M.B.A. Military Rank: Colonel, active reserve service.