Profimex will raise more than $80 million from institutional and private investors, which Townsend will manage.
Israeli real estate investment fund Profimex Ltd., will team up with US real estate investment consulting firm Townsend Group. Profimex will raise more than $80 million from institutional and private investors and transfer it to Townsend which will invest it in real estate funds worldwide.
Profimex (Israel) general manager Elchanan Rosenheim said, “The joint venture will give Israeli investors the opportunity to join leading global funds in real estate investments that were previously not open to them because of the threshold requirements. We can leverage investors’ status to find opportunities that are not generally available.”
Townsend is one of the world’s largest real estate consultancy firms with $70 billion in assets under management and investments in 500 real estate funds worldwide.
Published by Globes [online], Israel business news - www.globes.co.il - on February 26, 2007
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