Israelis 2nd in US real estate investment

International report indicates Israeli firms invested $441 million in US property in January-July 2010, second only to Canadian investors

Ofer Petersburg |Published: 11.15.10 , 07:50

Israelis are the biggest foreign investors in the United States after the Canadians, an international report by RCA real estate assessments suggests. According to the report, Israelis invested $441 million in US real estate between January and July 2010. The Canadians, by comparison, invested some $ 1.67 billion.

The most prominent Israeli firm to invest in the US this year was Nochi Dankner's Property and Building Corporation of the IDB Group. The company climbed to the second place in New York investments following its acquisition of the HSBC building.

Many Israeli firms including insurance companies invest in multiple US ventures through American companies and various partnerships. Israelis generally favor investment in major metropolitans such as Manhattan, Boston, Washington and Los Angeles.

Adina Cooper, Head of the Israel Desk at the property assessment company DTZ said: "The American market is suitable for foreigners and particularly Israeli investors. Each purchaser has easy access to information and deals can easily be analyzed, in comparison with many European markets. Israelis have found the best way to enter into overseas deals through partnerships."

Tamar Guy, director of the Israel-America Chamber of Commerce said: "Since the US crisis emerged Israeli bodies have been engaged in intense business activity, investing in US real estate. The particular state in the US market is sparking the interest of new and veteran Israeli bodies."