Israeli investment firm Hagshama Fund is looking to open a New York City office next year and plans to ramp up real estate investments.
Founded by Avi Katz in 2009, the fund has raised around $650 million from individual investors chipping in $25,000 each on average. In the U.S., it plans to compete with pension funds as a vehicle for middle-class and upper-middle-class savers to invest in real estate.
“Anyone can now go on Google Earth, see the color of the windows in a Manhattan building, or an office door in Tel Aviv,” Katz told Bloomberg.
According to Katz, Hagshama already holds a $6 million stake in an unnamed, $21 million Manhattan apartment building. Katz also runs the Israeli grocery store chain Cofix. [Bloomberg] — Konrad Putzier