Yakir Gabay

Yakir Gabay (Hebrew: יקיר גבאי‎, born 1966) is a Cypriot-Israeli billionaire real-estate businessman who is based in London. He owns 10% of Frankfurt-listed[1] German real estate company Aroundtown SA.

Yakir Gabay
Born1966 (age 53–54)
Jerusalem, Israel
Net worth$3.4 billion (Forbes April 2020)

Gabay is the son of Meir Gabay, a former Director-General of the Israeli Ministry of Justice who also served as the Civil Service Commissioner of Israel, in addition to being elected the President of the United Nations Administrative Tribunal. Yemima Gabay, his mother, was a senior at the Israeli State Attorney's Office and Director of the Pardons Department in the State of Israel's Ministry of Justice.

Early life and education

Yakir Gabay grew up in Jerusalem, and completed a BS degree in economics and accounting, and an MBA degree in finance and business development at the Hebrew University.

Business career

Gabay started his career in the Prospectus Department of Israel’s SEC.

He then served in management positions in the capital market as an investment banker. In the mid-1990s, he served as CEO of the investment banking division of Bank Leumi.[2] At the beginning of 2000, Gabay served as chairman and partner of Gmul Investments,[3] which then managed investments for pension funds, in real estate and securities totaling $30 Billions.[4]

In 2004, Gabay established real estate investment activity in Berlin and expanded to other large cities in Germany, UK and the Netherlands in the residential, hotel[5] and office markets. He co-invested with private investors as well as institutional investors amongst the largest in the world. The Group's properties are located in the major cities of Germany, UK and the Netherlands.

Aroundtown SA and Grand City Properties S.A.

In mid-2012, Gabay issued Grand City Properties,[6] a residential company, at a company value of 150 million euros.[7] The issue is considered most successful on the Frankfurt Stock Exchange. The company is traded on prime standard segment of the Frankfurt stock exchange, at a value of 4 billion euros (as of February 2020),[8] and is included in the major stock indices such as MDAX.

In mid-2015, Gabay listed the shares of Aroundtown SA in both Euronext Paris and the Frankfurt Stock Exchange, at a company value of 1.5 billion euros.[9] The listing was successful with more than doubling of the share price[10] The company is traded on the prime standard segment of Frankfurt stock exchange, at a market value of 13 billion euros (as of February 2020)[11] and is included in the main stock indices such as MDAX.

Aroundtown SA and Grand City Properties are ranked by Standard & Poor's Global Ratings BBB + [12][13]

Merger with TLG

Aroundtown which is the largest listed commercial real estate company in Germany, merged in February 2020 with TLG Immobilien AG[14] which was traded on the Frankfurt Stock Exchange with market cap of over €3 billion.The merged company Aroundtown SA is traded on the prime standard segment of Frankfurt stock exchange, at a market value of €13 billion  (as of February 2020) and is included in the main stock indices such as MDAX.[15] As of Q1 2020 total assets of Aroundtown are over €32 billion.

Gabay held 36% of the shares of Aroundtown SA.[16]

In September 2019 Gabay sold €1.5 worth of Aroundtown shares which reduced his holdings in Aroundtown to 10%. Aroundtown SA owns 40 percent of Grand City Properties, whose portfolio includes 70,000 apartments in Germany and over 3.000 in London.[17]

Management strategy

The strategy of the companies is based on the acquisition of real estate properties in central locations, their improvement and optimize return and creates an efficient management.[18]

gollark: What do you mean a "scripting language"?
gollark: Again, this is bad; rules should be predictable. The consequences of doing a thing should be clear before you do it for them to work. Thusly, minimize deliberate selective enforcement.
gollark: Not only is it not actually *true* that "every server" bans them, but that doesn't mean that "every server" makes a good decision.
gollark: Bad justification.
gollark: If someone asks for a thing, it's entirely conversationally relevant to give them it.

References
  1. "Yakir Gabay". Forbes. Retrieved 2020-06-03.
  2. https://www.haaretz.com/1.5077229
  3. https://en.globes.co.il/en/article-496330
  4. "Terms of Service Violation". www.bloomberg.com. Retrieved 8 September 2018.
  5. https://www.hospitalityinside.com/articles/the-unlikely-hospitality-couple,25272,816,en.html
  6. https://www.reuters.com/article/grand-city-prop-germany/grand-city-properties-aims-to-join-major-frankfurt-stock-index-next-year-idUSL8N1D14TS
  7. Name, Author. "Company Profile - Grand City Properties S.A". grandcityproperties.com. Retrieved 8 September 2018.
  8. "GRAND CITY PROPERTIES Aktie - Aktienkurs - A1JXCV - Börse Frankfurt". www.boerse-frankfurt.de. Retrieved 8 September 2018.
  9. "Milestones - Aroundtown SA - Largest German Listed Commercial Real Estate Company". www.aroundtown.de. Retrieved 8 September 2018.
  10. "AROUNDTOWN SA Aktie - Aktienkurs - A2DW8Z - Börse Frankfurt". www.boerse-frankfurt.de. Retrieved 8 September 2018.
  11. "Aroundtown SA announces Q1 2020 Results following consolidation of TLG - dgap.de". www.dgap.de. Retrieved 2020-06-03.
  12. https://www.investegate.co.uk/aroundtown-sa--irsh-/eqs/aroundtown-sa-announces-s-amp-p-rating-upgrade----/20171207105246ETAAR/
  13. https://grandcityproperties.com/grandcityproperties.com/en/the-stock.html
  14. "TLG-Aktie gewinnt: TLG Immobilien steigert Nettoinventarwert". finanzen.net (in German). Retrieved 2020-06-04.
  15. "Merger: Expiration of Initial Acceptance Period - TLG Shareholders Accept Exchange Offer for Majority of Shares - dgap.de". www.dgap.de. Retrieved 2020-06-04.
  16. "Aroundtown hat für 1,4 Mrd. Euro zugekauft". www.immobilien-zeitung.de. Retrieved 8 September 2018.
  17. https://www.aroundtown.de/portfolio/
  18. http://www.ifre.com/the-big-long-bets-pile-up-on-german-property/21347268.fullarticle
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