Spencer Equity, the Brooklyn-based real estate company owned by Joel Gluck, completed a bond offering for two new series, with the company finally issuing a total of about NIS 1 billion.
Lightstone Enterprise, the NY based real estate company owned by David Leichtenstein, completed the issuance of a new series of corporate Bonds on the Tel Aviv Stock Exchange. In the institutional phase of the issuance, huge demands of over NIS 760 million were received and the Company decided to accept offers in the amount of approx NIS 420 million at an annual interest rate of 7.07%
Almadav, the Canadian real estate development company led by CEO Rafi Lazer (formerly Elad Canada), issued a new series of bonds secured by liens on surplus cash flows from a residential development project in Toronto. The company raised approximately NIS 220 million through bonds that will be traded on the continuous institutional platform of the Tel Aviv Stock Exchange.
In August 2024, the Brooklyn-based real estate company, Spencer Equity, owned by businessman Yoel Gluck, successfully completed the expansion of Series D of its bonds, amounting to approximately NIS 260 million.
In August 2024, Pacific Oak, which is owned by the California-based REIT Pacific Oak, has successfully completed the expansion of its Series D Bonds in the amount of approximately NIS 299 million, which will be used primarily for the purpose of advancing payments in another series of the Company.
Westdale America, the real estate investment company based in Texas, has successfully completed a refinancing of its Series A bonds on the Tel Aviv Stock Exchange with a new series of bonds secured by, among other, first mortgages over three real estate properties in Texas. This new bond series, amounting to approximately NIS 417 million, will carry an annual interest rate of 7.11%.
Namco Reality LTD, owned by the American businessman Yigal Namdar, completed the issuance of a new series of bonds secured by a first-position mortgage over 15 residential properties in New York, in the amount of approximately 550 million NIS, and at an interest rate of approximately 6.25%.
Extell Limited, owned by the US developer Gary Barnett, completed an expansion of the company’s bond series in the amount of approximately 230 million NIS.
Property and Building Corp. successfully raised approximately 1.3 billion NIS through a secured Bond offering on the Tel Aviv Stock Exchange, bearing an interest rate of approximately 6.63% for the purpose of refinancing the 10 Bryant Park building (formerly HSBC Tower) in Manhattan, New York.
West Coast REIT – Pacific Oak completed an offering of a new series of bonds in the amount of approximately 288 million NIS at an interest rate of approximately 9.5%.
The Leser Group LTD, controlled by Jewish businessman Abraham Laser, completed an offering of a new series of bonds totaling approximately 300 million NIS at an interest rate of approximately 8.9%.
In March 2024, Copperline Americas Limited, owned by the Schlesinger family, completed an offering of a new series of bonds totaling approximately NIS 195 million, which was primarily used to replace an existing series of bonds of the company.
Lightstone Enterprise, owned by the American businessman David Lichtenstein, completed an offering of a new series of bonds totaling approximately $650 million, which were primarily used to refinance the Moxy Chelsea hotel, which was transferred to the company in connection with the offering.
Our firm accompanied Carasso Motors Ltd. in an expansion of its Series C+D Bonds for a total amount of approx. NIS 500 million.
Our firm represented the real estate company Extell Limited, controlled by Mr. Gary Barnett, in a Series C first public offering and expansion by private placement in the total amount of approximately NIS 240 million
Our firm represented Namco Realty Ltd. in the expansion of their Series A bond issuance in the amount of NIS 85 million.
Our firm represented PACIFIC OAK SOR (BVI) HOLDINGS, LTD (part of the PACIFIC OAK Group from California) in expansion of its series A bonds by a private placement to classified investors in the amount of NIS 245 million.
Our firm accompanied Spencer Equity Group Limited in its private issuance of bonds (series B) to classified investors in the amount of NIS 250 million, by way of expanding the outstanding series.
Our firm accompanied Copperline Americas Limited, in its completion of an IPO of a new Series of C bonds (which was carried out partially by an exchange offering of existing Series A bonds), in which the Company raised approximately 91 million NIS. The series was secured, inter alia, by a mortgage over one of the Company’s real estate properties in New York.
Our law firm represented The Leser Group, a real estate group that handles income-producing real estate in New York, in a round of raising a new series of bonds secured by a mortgage on three real estate properties in New York, amounting at NIS 168 million (with a total monetary value of 164 NIS million) at an interest rate of 5%.
Our firm represented Namco Realty, which holds commercial shopping centers across the USA, in a NIS 400 million (400,000,000 NIS) bond raise on the TASE.
Our firm represented Elad Canada (owned by Mr. Yitzhak Tshuva) in a NIS 500 million (500,000,000 NIS) bond raise on the TASE.
In 2019, the firm accompanied in a groundbreaking and first-of-its-kind IPO Prospectus, when for the first time ever, a U.S. REIT with an UPREIT structure was introduced on the TASE to offer shares to the Israeli public, for which reason the REIT underwent the full listing process in Israel and not a dual listing.
Our firm represented the huge real-estate developer Westdale Properties, from Dallas, Texas, in a NIS 500 million bond raise (IPO) on the TASE, conducted by way of book building.
