Clal and Other Investors in Talks to Buy Stake in Ashtrom's Residential Rental Business

In depth

Clal Insurance is in talks to buy 20% of Ashtrom's residential rental business. The talks are based on a valuation of 2.26 billion shekels for the company. The deal to bring Migdal into the same business has not yet been signed, and the deadline for completing it was extended by 30 days.

Ashtrom Residential Rental holds a portfolio of more than 3,200 apartments across the country, with projects in Tel Aviv, Jerusalem and Or Yehuda. Migdal will buy 20% of the partnership's rights for over 400 million shekels, and Migdal has already acquired a fifth of the business for about 451 million shekels.

Ashtrom Group's shares have fallen about 22% since the beginning of the year, and the company is trading at a valuation of about 6.1 billion shekels. The entry of the partners helps the company's debt ratio, which it reduced by 115 million shekels in 2025.