Copperline raises $75M on the Israeli bond market

Developer raised $85M in a 2015 offering
February 24, 2017 06:42PM

The Schlesinger family’s Copperline Partners raised $75 million on the Israeli bond market this week.

The bonds, which are backed by the company’s portfolio, are set to mature in 2025 and carry a coupon of 5.1 percent. The Commercial Observer reports that Copperline plans to use part of the money to pay off investors in its first Israeli bond offering, which raised $85 million in October 2015.

Copperline owns properties across New York, Florida and Connecticut.

The Israeli bond market has emerged as a popular source of capital for New York’s developers and real estate investors, as U.S. banks increasingly shy away from projects deemed risky.

Earlier this week, retail mogul Jeff Sutton TRData LogoTINY raised $233 million through bond sales in Israel, as The Real Deal first reported[CO] — Konrad Putzier