Winning Strategy

From a Neglected Property in Receivership to a Stunning Apartment Secured in an Urban Renewal (Pinui-Binui) Project

Some real estate deals require more than just equity—they require composure, the ability to identify opportunities where others hesitate, and uncompromising execution. The investment story of Or, which began in August 2023, is a powerful example of how a “distressed asset” in receivership can be transformed into a highly profitable income-generating property within a developing urban renewal project

Success Story

Introduction: Identifying Hidden Value

Or approached us during a period of uncertainty in the Israeli real estate market. The objective was clear: find a high-upside property—one that could be acquired below market value and had a clear path to appreciation.

We identified an apartment in receivership within an Aura project. While the estimated market value stood at ₪1.9 million, the physical condition of the property (broken windows, leaks, and severe neglect) deterred most buyers. For us, this was the clearest signal of opportunity

Strategy: Below-Market Acquisition (2023 Data)

ALMI’s close guidance enabled Or to win the competitive bidding process and close the deal significantly below the appraised value:

Purchase Price: ₪1,730,000 (approx. ₪170,000 below appraised value)

Initial Equity: approx. ₪480,000

"Receivership deals are complex, but with ALMI I felt I had a winning team behind me,” says Or. “They didn’t just identify the asset—they managed the bidding process with composure against other bidders and secured it at an opportunistic price. Knowing I had someone to rely on during the most intense moments made all the difference"

Or Granit

Value Creation: Turning a “Shell” into a Premium Asset

The next stage was critical—bringing the property back to life. We built a comprehensive renovation plan for Or, with a budget of ₪110,000, including full infrastructure repair, leak treatment, and a complete interior renovation

Outcome and Planning Horizon (2026)

Today, two years after acquisition, the market continues to validate the strategy. Apartment prices in the project have risen to approximately ₪2.3 million. In addition, there is strong planning certainty for an additional 20 sqm extension per unit, further enhancing future value potential.

Within two years, thanks to the guidance and the extensive renovation we executed together, we created over half a million shekels in value. This is not just a deal—it’s a winning strategy that required attention to the smallest details in construction and financing.

Or Granit