Electra Real Estate
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It reports that together with the IBI Investment House, it purchased 74 detached houses in six countries in the southeastern United States for a total of $ 17.1 million. The equity provided by the parties for the purchase amounted to $ 6.9 million, and Electra’s share Post-dilution real estate is $ 0.7 million.
Electra Real Estate and IBI say these are properties that will be attractive to the upper-middle-class socio-economic class, as they are three- to five-room homes located near large employment centers, schools and medical centers.
The transaction is carried out at IBI through IBI Pillar, their real estate investment arm with a portfolio of 13 properties. To date, it has jointly invested with Electra Real Estate in nine projects. Electra Real Estate recently reported on the provision of a loan for the purchase of a housing association in Jacksonville, Florida through its debt fund, which has so far executed 13 transactions.
“Investment in the single-family field is a complementary product to the multi-family field, since the multi-family consists of individual complexes containing hundreds of small housing units intended mainly for individuals, while the single family consists of individual private homes usually intended for families,” he explained. Amir Yaniv, VP of Open Business at Electra Real Estate.
Electra Real Estate closed the third quarter of 2020 with revenues of NIS 47.3 million, a growth of 23.8% compared to NIS 38.2 million in the corresponding period last year. Net income was NIS 29.6 million, an increase of 27.3% compared to NIS 23.4 million a year earlier.
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