Kohan Properties, owned by Jewish-Iranian entrepreneur Mike Kohan, plans to raise $140 million in bonds on the Tel Aviv Stock Exchange. Kohan, a former partner of Zohar Levy, holds real estate valued at approximately one billion dollars. The article highlights that North American real estate companies, incorporated in the British Virgin Islands, are taking advantage of favorable conditions to raise funds in Israel. Kohan Properties stands out with its strategy of acquiring vacant office spaces at advantageous prices, around $40 per square foot, a fraction of the construction cost. This approach allows for profits even when rents are below market rates. In contrast, high-end offices, purchased at high prices by other companies, might be transferred to banks if financial difficulties arise. This dynamic illustrates the current challenges and opportunities in the Israeli real estate market.
