Paine Equity is an Israeli subsidiary of a US investment company.
Paine Equity, together with investors from Israel and Western Europe, recently purchased a 28-apartment building in the Wall Street area of New York, for $9 million. Paine Equity is an Israeli subsidiary of a US investment company.
The building has been leased to New York University for $1.5 million a year, and will serve to house university lecturers. A large part of the investment was financed by means of a mortgage, whose volume and other particulars were not reported.
Paine Equity recently started inviting Israeli investors to purchase apartments in New York and Texas, in light of the foreign currency deregulation shortly to take effect in Israel.
Published by Israel's Business Arena May 10, 1998