Israeli Firm Buying Up London Real Estate by the Pound
In recent months, Brockton Everlast, a real estate investment subsidiary of Israeli real estate holding company Alony-Hetz Properties and Investments, started accelerating the pace of its London acquisitions. Despite the seemingly never-ending Brexit saga and its related economic uncertainty, Brockton Everlast partners David Marks and Jason Blank, who specialize in asset improvement, think the UK’s capital still offers plenty of opportunities.
The firm has recently handed over GBP 412 million (around $520 million) for three London office buildings spanning a total of 44,000 square meters. All three offer long-term leases, with Brockton Everlast having an option to renovate or even take down the buildings and build new ones instead. Alony-Hetz, which made an initial GBP 40 million ($50.5 million) in Brockton Everlast previously, invested another GBP 172 million ($217 million) as part of the recent acquisitions.