Company Electra Real Estate Reported this morning (Tuesday) the launch of a fourth investment fund in housing groups in the southeastern United States with a $ 1 billion fundraising target. The company currently manages about $ 2.7 billion through four active investment funds, joint ventures alongside funds and a REIT partnership to invest in hotels.
The third investment fund for investments in housing clusters completed in July 2021 the fundraising phase for the fund with liabilities of approximately $ 980 million, compared to a fundraising target of approximately $ 500 million at launch.
Electra Real Estate recently updated on expanding its investment fund operations outside the United States. The company has announced that it is working to set up a fund that will invest in the UK office space, raising around £ 200 million from private and institutional investors.
Electra Real Estate ended the third quarter of 2021 with a sharp increase in its revenues to NIS 188 million, and a 280% increase in net profit to NIS 133.4 million.
In July, it reported that its first U.S. housing investment fund, which holds 41.6% of the rights to a housing association in Miami, Florida, had signed a deal to sell its property rights for $ 99 million. The property was purchased in May 2017 for approximately $ 61.2 million. $, So that is a profit of close to $ 40 million.
Electra Real Estate Group Elco It currently manages approximately 31,000 housing units in 97 housing units in the United States, in addition to 32 transactions for granting loans to purchase housing units through the debt fund. In addition, the company owns approximately 1,050 detached houses and three hotels in the United States. CEO Gil Roshink said that “Electra Real Estate is booming and implementing the business model, which is based on the establishment of private equity funds, which focus on investing in stable underlying assets, along with significant improvement potential. In all funds Electra Real Estate is the general partner, and according to this model Maximizes the potential for value creation for its shareholders. “