September Edition 2023

45 Whichever way you slice and dice it, these are challenging economic times around the world, and yet outbound real estate investments for Israeli clients are holding up well, according to a recent article in Israeli business press, Globes. Israeli businesspeople, companies, and institutional investors invested USD 2.3 billion in overseas real estate in 2022, down only 5.7%, despite the interest rate rises. We caught up with some of the leading real estate lawyers in New York, Toronto, London and Hamburg to gather some of their views. What do you attribute this to? “Historically, Israeli capital has been very opportunistic,” said Yariv Ben-Ari, partner in Herrick‘s Real Estate Department and a co-chair of both the firm’s Israel practice group and Real Estate Hospitality group. He added: “Given the growth of relationships between Israeli investors and their US partners over the last decade or so, these relationships have allowed Israeli capital to reach quality assets in prominent locations and other opportunistic investments. While most institutional capital wasn’t exposed to the prior recession because they hadn’t yet significantly invested in the US, after going through a learning curve that included a decade or more of investing and then adjusting for COVID-related scenarios, Israelis have reached a higher level of comfort in US investing. We also attribute the growth to the uncertainty in Israel that has been going on for months given the political environment. Notwithstanding the current economic environment, the US is still a stable investment target.” Israeli businesspeople, companies, and institutional investors invested USD 2.3 billion in overseas real estate in 2022

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