The fund will raise at least $50 million.
Polar Investments Ltd. (TASE: PLR) will establish a US real estate investment trust (REIT) to invest in distressed properties. The fund will raise at least $50 million. Polar will be one of the investors and manage the new fund.
US real estate tycoon Ziel Feldman controls Polar through FD Holdings.
Published by Globes [online], Israel business news - www.globes-online.com - on December 30, 2007
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