NYC real estate firms join Israeli bond boom

Companies have sold $14.6 billion worth of bonds so far this year

New York /
Nov.November 30, 2014 05:00 PM

New York real-estate firms, including Extell and Zarasai Group, have issued bonds totaling $436 million on the Tel Aviv Stock Exchange.

In total, companies have sold $14.6 billion worth of bonds this year through November 20, up from $8.7 billion in the same period of 2013, according to Bloomberg News. That amount represents the largest wave of local debt issuance since 2007.

“Institutional investors and pension managers are thirsty for investment as money in the bank hardly yields anything,” Israel Shimonov, founding partner at Shimonov & Co. Advocates, told Bloomberg News. “The government does not issue enough bonds, and equity listings are limited.”

Gary Barnett’s Extell raised 1.05 billion shekels ($270 million) from the sale in June — the largest foreign debt sale this year, as The Real Deal reported. Brookland Capital, which has several development projects in Brooklyn, has also raised funds on the Tel Aviv Stock Exchange.  [Bloomberg News]Christopher Cameron


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)
Extell lands $690M refinancing package for One Manhattan Square
Extell lands $690M refinancing package for One Manhattan Square
Extell Development's Gary Barnett (Credit: Getty Images and iStock)
Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower
Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower
Central Park Tower
Extell just went public with Central Park Tower listings
Extell just went public with Central Park Tower listings
Extell CEO Gary Barnett pictured with One57. (Extell, One57)
One57 condo sells at record 51% loss
One57 condo sells at record 51% loss
Renderings of 1223 Spofford Avenue, Bronx, 153-10 88th Avenue, Queens and 1201 Spofford Avenue, Bronx (iStock, NYC Economic Development Corporation, Zara Realty)
The top 10 biggest real estate projects coming to NYC
The top 10 biggest real estate projects coming to NYC
Extell Development's Gary Barnett and Central Park Tower (Building photo via Central Park Tower)
Falling ice capades: Extell sued over icicles at Central Park Tower
Falling ice capades: Extell sued over icicles at Central Park Tower
Extell Development's Gary Barnett and 32 West 48th Street (Google Maps)
Extell makes its Diamond District hotel official
Extell makes its Diamond District hotel official
Joseph Tabak
Portrait of a deal junkie: The Joseph Tabak story
Portrait of a deal junkie: The Joseph Tabak story
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...