Israel Joins Brazil, Mexico In Focusing on Florida Real Estate Investment and Land Development

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In an article written by Gil Shlomo for The Jerusalem Post this week, entitled "Israelis are No. 2 foreign buyers of real estate in US," a recent study was discussed which reveals that Israel is second only to Canada in buying income-producing real estate here in the United States. According to the Globes' study, Israeli investors spent $1.2 billion last year purchasing American real estate investments.

What are Israeli interests buying here in the U.S.?

Office towers are the most popular investment, followed by shopping centers; however, a lot of this foreign investment from Israel is going into residential investments - both single family dwellings that are for sale as well as larger rental projects. One example that the Jerusalem Post uses in its article is the January 2011 purchase of 21 Miami condos for $8.6 million by Optibase Ltd. / Optibase Real Estate Miami LLC from Leviev Boymelgreen Marquis Developers LLC.

While the majority of the Israeli investment in residential properties was reported to be in Manhattan, those Israeli dollars not going into residential investment in NYC were going into residential properties in South Florida.

We should expect more Israeli investment here in South Florida.

Please see full article below for more information

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Rosa Eckstein Schechter, Eckstein Schechter Law | Attorney Advertising

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