The intriguing mathematics that turns Manhattan properties into Israeli shekels
New York
WHAT do Israeli investors know about retirement homes in Indiana state in the US? Enough to lend them 265 million shekels (S$95 million).
Strawberry Fields, a real estate investment trust (Reit) whose facilities cater to Alzheimer's sufferers in the Midwest, is the latest of at least 14 US property companies that have borrowed a combined 8.1 billion shekels in the Israeli market since 2008, securing interest rates they could only dream of at home.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co