Leumi Partners Invests $100 Million in US Housing Firm Harbor Group
Translated & summarized from Calcalist by baba
Leumi Partners, the investment arm of Bank Leumi, has invested $100 million in U.S. real estate firm Harbor Group, valuing the company at $1.275 billion. Harbor Group, founded by Jordan Slone, manages $22 billion in U.S. rental housing and commercial properties. The investment provides Leumi Partners with an option for a 10% stake and aims to capitalize on Harbor Group's growth plans. The deal was led by Harbor Group's CEO Jordan Slone and Leumi Partners' CEO Victor Vackrat.
The story in 6 lines · by baba
- Leumi Partners invested $100 million in U.S. real estate firm Harbor Group.
- The deal values Harbor Group at approximately $1.275 billion.
- Harbor Group manages $22 billion in U.S. rental housing and commercial properties.
- The investment gives Leumi Partners an option to increase its stake to 10%.
- Harbor Group was founded in 1985 by Jordan Slone.
- The deal was led by Jordan Slone and Victor Vackrat.
Leumi Partners, the investment arm of Bank Leumi, is expanding its international reach with a significant investment in the American real estate company Harbor Group. The firm will invest $100 million in Harbor Group, which specializes in rental housing complexes across the United States. This transaction values Harbor Group at approximately $1.275 billion and grants Leumi Partners an option to acquire additional shares, potentially increasing its stake to 10% at the same valuation.
Harbor Group manages a diverse portfolio of hundreds of properties in the U.S., valued at $22 billion, encompassing both residential rental and commercial assets. Founded in 1985 by Jordan Slone, the company focuses on acquiring, improving, and managing income-generating real estate and also operates in commercial real estate financing.
Harbor Group has a history of engaging with Israeli institutional investors and aims to grow its managed assets to $60 billion in the coming years. Jordan Slone, who serves as CEO and Chairman, led the deal on behalf of Harbor Group, while Victor Vackrat, CEO of Leumi Partners, represented the Israeli firm.
Vackrat highlighted the strategic nature of the investment, stating, "What distinguishes this deal is the combination of participation in Harbor Group's existing operations and exposure to its future growth trajectory." He added, "Harbor Group has built a high-quality and diverse platform in the U.S. housing sector over the years, and we believe its expansion plans, alongside an excellent management team with an Israeli presence, will create significant long-term value."
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