Real Estate Investment Fund Raises $75 Million With Key Investors
Translated & summarized from Calcalist by baba
Ron Hochman and Tzuri Levy, former Mizrahi Tefahot Bank executives, have raised 300 million shekels ($75 million) for their new real estate investment firm, Eitan Partners. Key investors include Tadmor Group and the Einai family, with the fund aiming for 1 billion shekels ($250 million) in managed assets within five years. The company will focus on providing financing for urban renewal projects. This launch occurs despite a current downturn in the Israeli real estate market.
The story in 5 lines · by baba
- Eitan Partners, a new real estate investment firm founded by former Mizrahi Tefahot Bank executives, has raised 300 million shekels.
- Key anchor investors include Tadmor Group and the Einai family, with Gideon Tadmor and the Einai family involved.
- The fund aims to manage approximately 1 billion shekels in assets within five years.
- Eitan Partners will focus on providing equity and mezzanine financing for real estate developers, especially in urban renewal.
- The company's launch comes amid a slowdown in apartment sales and difficulties for developers in Israel.
Ron Hochman and Tzuri Levy, former executives from Mizrahi Tefahot Bank's investment arm, have successfully raised 300 million shekels ($75 million) for their new real estate investment and financing company, "Eitan Partners." The fund secured its capital from several prominent figures in the Israeli capital market.
Key anchor investors include Tadmor Group, the private investment arm of Gideon Tadmor, and the Einai family, who are part of the UMI Group. Boaz Schnitzer, CEO of Tadmor's family office, and Alon Einai, manager of the Einai family's family office, led the investment on behalf of these anchor investors. The company also welcomed other investors, such as businessman Ran Totenauer, founder of the former medical device company Totnaur, and The Phoenix Underwriting, headed by Eyal Grinbaum.
Eitan Partners aims to manage assets totaling approximately 1 billion shekels ($250 million) within five years. The company plans to enter the capital market in the coming years. It was established to provide equity and mezzanine loan financing to real estate developers, focusing primarily on residential projects and urban renewal initiatives.
The company highlights its unique ability to offer creative and flexible financing solutions tailored to individual developers, projects, and cash flow complexities. The focus on urban renewal is driven by the scarcity of available land in high-demand areas and the need to strengthen existing buildings, making projects like "Pinui-Binui" (evacuate-build) and Tama 38 (a national plan for building reinforcement) central to supplying new housing units.
Despite the current slowdown in apartment sales, developer difficulties, and a rise in canceled deals, Hochman, who left the bank in February to establish the company, appears optimistic about a market recovery.
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