Leumi Partners Invests $100 Million in US Real Estate Firm Harbor Group
Translated & summarized from TheMarker by baba
Leumi Partners, Bank Leumi's real estate investment arm, is investing $100 million in U.S. firm Harbor Group International, which manages $22 billion in apartment complexes. The deal includes options for an additional $30 million investment, potentially raising Leumi's stake to 10%. This move expands Leumi's U.S. real estate holdings, with Harbor Group's portfolio projected to reach $60 billion.
The story in 5 lines · by baba
- Leumi Partners is investing $100 million in U.S. real estate firm Harbor Group International.
- The investment expands Leumi Partners' real estate holdings in the United States.
- Harbor Group manages a current portfolio of approximately $22 billion in apartment complexes.
- Leumi Partners may increase its stake to 10% with an additional $30 million investment.
- Harbor Group's portfolio is expected to grow to about $60 billion.
Leumi Partners, the real estate investment arm of Bank Leumi, is expanding its investments in the U.S. real estate sector. The firm, managed by Victor Wekert, has signed an agreement to invest $100 million (approximately 300 million shekels) in the American real estate company Harbor Group International. Harbor Group focuses on apartment complexes across the U.S. and currently manages a real estate portfolio valued at around $22 billion.
Leumi Partners will also receive options for an additional investment of approximately $30 million, which could increase its stake in Harbor Group's management company to 10%. This investment will provide Leumi Partners exposure to both Harbor Group's existing operations and its future growth, with the company's portfolio expected to expand to approximately $60 billion. The investment by Leumi Partners will be made in the general partner of Harbor Group, which is controlled by Jordan Selam, the company's founder, CEO, and chairman.
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