Mishorim Development

{{Short description|Israeli real-estate company}}

{{Infobox company

| name = Mishorim Development

| logo =

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| industry = Real estate

| predecessor =

| founded = 1990

| founder = Gil Blutrich

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| hq_location_city = Tel Aviv

| hq_location_country = Israel

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| owner = Alex Shnaider

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| website = {{URL|https://mishorim.com/}}

}}

Mishorim Development Ltd. is an Israeli company that was founded by Gil Blutrich in 1990. The current owner is Alex Shnaider. It is a public company traded at the Tel Aviv Stock Exchange (ticker symbol: MSHR) as of 2021.{{Cite web|url=https://www.tase.co.il/en/market_data/company/1467/about|title=דף הבית - הבורסה לניירות ערך בתל אביב | אתר הבורסה|website=www.tase.co.il}} The company owns many historic sites and buildings in various countries, such as the town of Port McNicoll,{{Cite news|url=https://www.ynetnews.com/articles/0,7340,L-3181621,00.html|title=Israeli buys Canadian town|date=December 8, 2005|website=Ynetnews|last1=Petersburg |first1=Ofer }} Horseshoe Resort,{{Cite web|url=https://www.thestar.com/business/2008/07/10/horseshoe_resort_sold_to_israeli_developer.html|title=Horseshoe Resort sold to Israeli developer|date=July 10, 2008|website=thestar.com}} King Edward Hotel, and Skyline Tower in Canada,{{Cite web|url=https://www.reuters.com/companies/MSHR.TA|title=MSHR.TA - Mishorim Real Estate Investments Ltd | Reuters| website=www.reuters.com}} as well as parts of the SunTrust International Center in Miami, United States.{{Cite web|url=https://therealdeal.com/miami/2018/09/12/israeli-firm-to-buy-suntrust-parking-garage-in-downtown-miami-for-18m/|title=Crocker Partners | Mishorim Development | SunTrust Miami|date=September 12, 2018|website=The Real Deal South Florida}}{{Cite web|url=https://www.law.com/dailybusinessreview/2018/10/23/downtown-miami-garage-once-bound-to-suntrust-tower-sells-for-18-25-million/|title=Downtown Miami Garage Once Bound to SunTrust Tower Sells for $18.25 Million|website=Daily Business Review}}

Overview

One of Mishorim's main focus areas is the US commercial sector,{{Cite web|url=https://www.realtytoday.com/articles/112080/20210407/why-more-and-more-real-estate-investors-are-seeing-the-potential-of-the-suburbs.htm|title=Why More and More Real Estate Investors Are Seeing the Potential of the Suburbs|first=Ernest|last=Hamilton|date=April 7, 2021|website=Realty Today}} where it invests in a wide variety of properties in cities such as Miami.[https://www.bizjournals.com/southflorida/news/2018/10/26/mishorim-real-estate-investments-hires-karp.html Mishorim Real Estate Investments hires architect Kobi Karp to design downtown Miami project]. In downtown Miami, Mishorim has proposed a mixed-used dual-tower project called Mishorim Towers.[https://www.bizjournals.com/southflorida/news/2019/07/15/mishorim-porposes-residential-hotel.html Israeli developer proposes 63-story project in downtown Miami].

Skyline International Development Inc. is the Canadian division of Mishorim.{{cite news| title=Mishorim and Israel Land planning NIS 1b Toronto skyscraper| url=http://archive.globes.co.il/searchgl/Mishorim%20and%20Israel%20Land%20planning%20NIS%201b%20Toronto%20skyscraper_h_hd_2L34mCpWuE5mnC30mCZWqDpKnBcXqRMm0.html| archive-url=https://archive.today/20120710100439/http://archive.globes.co.il/searchgl/Mishorim%20and%20Israel%20Land%20planning%20NIS%201b%20Toronto%20skyscraper_h_hd_2L34mCpWuE5mnC30mCZWqDpKnBcXqRMm0.html| url-status=dead| archive-date=10 July 2012| work=Globes| access-date=26 February 2012}}

Mishorim has also invested in proposed properties such as the Sapphire Tower in Toronto, Canada. The INDX Tower ended up being built instead of the proposed Sapphire Tower.{{cite news| title=Mishorim unit sells Toronto lot for C$39m| url=http://www.globes.co.il/serveen/globes/docview.asp?did=1000709601&fid=1124| work=Globes| date=December 25, 2011| access-date=2017-08-31}} The 51-floor {{convert|179|m|ft}} INDX Tower was completed in 2016, although it was not as high as the previously planned Sapphire Tower.

Mishorim also operates throughout Israel, where it manages various outdoor centers in suburban areas.{{Cite web|url=https://jewishbusinessnews.com/2021/04/07/why-office-real-estate-in-israel-is-booming-despite-covid-19/|title=Why Office Real Estate in Israel is Booming, Despite COVID-19|date=7 April 2021 }}{{Cite web|url=https://markets.ft.com/data/announce/detail?dockey=600-202104210900PR_NEWS_USPRX____IO50445-1|title=FT.com|website=markets.ft.com}}

History

In 1990, Gil Blutrich founded Mishorim in Israel. On 30 December 2015, Alex Shnaider invested NIS₪39 million in Mishorim Development Ltd., a real estate company controlled by developer Gil Blutrich.{{Cite web|title=Alex Shnaider buys 21% stake in Mishorim - Globes English |url=http://www.globes.co.il/en/article-alex-shnaider-buys-21-stake-in-mishorim-1001092253 |website=Globes |accessdate=2016-01-11 |url-status=dead |archiveurl=https://web.archive.org/web/20160305005817/http://www.globes.co.il/en/article-alex-shnaider-buys-21-stake-in-mishorim-1001092253 |archivedate=5 March 2016 }} As of July 2016, he held 42% of the company.{{Cite news|url=https://en.globes.co.il/en/article-alex-shnaider-to-buy-major-stake-in-mishorim-1001142432 |title=Alex Shnaider to increase stake in Mishorim|last=Levy|first=Aviv|work=Globes|date=28 Jul 2016|access-date=Feb 28, 2020}} Shnaider is currently the sole holder of controlling interest when an Israeli court ruled in favor of him in August 2020, in a legal lawsuit filed by his past partner Gil Blutrich.{{Cite news|url=https://www.globes.co.il/news/article.aspx?did=1001339576|title=ניצחון לאלכס שניידר: ביהמ"ש דחה את תביעת בלוטרייך וקבע כי הסכם השליטה במישורים בוטל כדין|work=Globes|language=he|date=2020-08-17|access-date=Sep 18, 2020}}

Mishorim owns Skyline Investments, a publicly traded hotel operator, as of 2021.{{Cite web|url=https://retail-insider.com/articles/2021/03/all-the-reasons-canada-is-becoming-an-attractive-real-estate-venue/|title=All the Reasons Canada is Becoming an Attractive Real Estate Venue|date=March 9, 2021}} In October 2024, Mishorim Investments Ltd. acquired the Swiss startup ErekInvest Ltd. for an undisclosed amount, thereby expanding its business operations into Switzerland.{{Cite web | title=EREKINVEST LTD. persons with significant control - Find and update company information - GOV.UK | url=https://find-and-update.company-information.service.gov.uk/company/14476353/persons-with-significant-control | access-date=2025-07-12 | website=find-and-update.company-information.service.gov.uk}}

Skyline Investments

{{main|Skyline Investments}}

Skyline Investments is the Canadian division of Mishorim and is based in Toronto, Canada. It is currently a public company with the ticker symbol SKLN. Operating throughout Canada, Skyline focuses on real estate, hospitality, community development, and various other areas.{{cite web | url=https://www.bloomberg.com/profile/company/SKLN:IT | title=Skyline Investments Inc - Company Profile and News | website=Bloomberg News }} In Ontario, Skyline owns and manages Deerhurst Resort & Village in Muskoka and Horseshoe Resort & Village.{{Cite web | title=Deerhurst - Skyline Investments | url=https://www.skylineinvestments.com/portfolio/deerhurst/ | archive-url=https://web.archive.org/web/20210116235942/https://www.skylineinvestments.com/portfolio/deerhurst/ | access-date=2025-07-12 | archive-date=2021-01-16}}

In the 2010s, Skyline worked on rebuilding the {{convert|12,000|acre|adj=on}} Port McNicoll site in Ontario, Canada.

In 2011, Skyline International Developments Inc. (now Skyline Investments Inc.) bought the SS Keewatin,{{cite web|url=https://www.theglobeandmail.com/report-on-business/industry-news/property-report/titanic-era-ship-anchors-port-redevelopment/article4549172/|title=Titanic-era ship anchors port redevelopment|access-date=9 April 2018|work=The Globe and Mail |last=Kryhull |first=Angela |date=17 September 2012}} Skyline Investments is also the owner of Keewatin and surrounding development properties in Canada.{{cite web |url=https://www.toronto.com/news-story/10040942-skyline-investments-looking-to-sell-donate-or-dismantle-ss-keewatin |title=Skyline Investments looking to sell, donate or dismantle SS Keewatin |last=Sarvis |first=Gisele Winton |work=toronto.com |date=23 June 2020 |access-date=1 June 2021 |archive-date=12 January 2022 |archive-url=https://web.archive.org/web/20220112183831/https://www.toronto.com/news-story/10040942-skyline-investments-looking-to-sell-donate-or-dismantle-ss-keewatin/ |url-status=dead }}

See also

References