Rent It CEO Buys Apartments at 15% Discount, Expects Profit
Translated & summarized from TheMarker by baba
Sharon Tusia Cohen, CEO of Rent It REIT, buys apartments at a minimum 15% discount and expects profits regardless of interest rate changes. He is awaiting the right time for an IPO, linking it to the upcoming elections. Meanwhile, developer Aura predicts economic growth in Israel, especially in real estate, and anticipates increased home buying and immigration.
The story in 5 lines · by baba
- Rent It REIT CEO Sharon Tusia Cohen buys apartments at a minimum 15% discount.
- Cohen expects profits from rising property values even if interest rates decrease.
- The upcoming elections are a 'million-dollar question' for Rent It's IPO plans.
- Developer Aura forecasts economic prosperity in Israel, particularly in real estate.
- Aura also anticipates increased household apartment purchases and immigration.
Sharon Tusia Cohen, founder and CEO of the Rent It REIT fund, stated that he does not purchase apartments with a discount of less than 15%, calling it "more than one can dream of." He also expressed confidence in profitability even if interest rates fall, predicting that "the value of the properties will rise." Following a failed IPO, Cohen is awaiting the right moment to proceed with it, describing the upcoming elections as a "million-dollar question."
Financial reports from public companies offer more than just accounting insights for investors; they also reflect management sentiment and a company's market investments. For instance, Aura, a major residential developer, published assessments in its latest quarterly report. The company anticipates a broad economic boom in Israel, particularly in the residential real estate sector. Aura projects an increase in home purchases by households and expects a return of Israelis who had left for countries like Cyprus and the UAE, alongside a significant wave of immigration from Jewish communities worldwide.