Electra Real Estate urchased a housing portfolio in Houston Texas for $ 36.4 million

Electra Real Estate, part of the Elco Group controlled by the Zalkind family, is expanding its operations in the housing group market in the southeastern United States. The company reported that the third U.S. housing fund investment fund purchased a housing portfolio in Houston, Texas, for $ 36.4 million. The fund's equity in the property invested is about $ 14.4 million.
Following this transaction, the third fund owns 7,667 housing units, in 26 collections in the southeastern United States, totaling $ 458.6 million (part of the fund). The third fund of Electra Real Estate has raised approximately $ 860 million, since its inception in late 2019.
In the last three years, Electra Real Estate has raised about $ 1.75 billion in four investment funds in US housing clusters from investors in Israel and around the world, and in addition has raised about $ 600 million, mainly from US entities in joint ventures alongside the funds. $ 2.35 billion in U.S. housing clusters.
Electra Real Estate, part of the Elco Group, ended 2020 with a 27% increase in net operating income (NOI) reaching $ 220 million, compared to $ 179 million in 2019. The company reported revenues of NIS 155 million in 2020, compared to NIS 152 million in 2019 - an increase of about 2% The increase in revenues is mainly due to an increase in revenues from management fees and success fees in 2020.
Electra Real Estate currently manages close to 35,000 housing units in 106 housing units in the United States, including 13 lending transactions to purchase housing units. In addition, the company owns approximately 255 detached houses in the United States.
Gil Roshink, CEO of Electra Real Estate, said: “The company's activity in the field of housing clusters in the Southeastern United States, an area where we have many years of experience, enjoys a very strong backlash, among other things in light of a supportive macro environment. We intend to work to further expand and improve the activity. In addition, we recently announced the entry into activity in the field of detached houses for rent - single family, a complementary and synergistic area to our existing activity that enjoys an increase in demand, and our intention to enter the US hotel industry, given opportunities created by the Corona crisis significant".