Search
 

NYC Firm Acquires Stake in Israeli Firm

TEL AVIV-Northern Group Inc. acquires a 50% stake in Acad Building and Investments Israel, which owns a 90% stake in U.Dori Engineering, a publicly traded, locally headquartered developer.

By Brian K. Miller | Updated on January 28, 2007

(To read more on the industrial market, click here.)

TEL AVIV-Northern Group Inc., a private real estate investment firm from New York City has acquired a 50% stake in Acad Building and Investments Israel. Acad Israel’s principal asset is a 90% stake in U.Dori Engineering, a locally headquartered builder and developer that is publicly traded on the Tel Aviv Stock Exchange.

NGI buys and rehabs older buildings for residential and commercial use. Most recently, it has been investing in Detroit. Recent purchases there include First National, Penobscot and Cadillac Tower office buildings in Downtown and the 400-unit Alden Park Towers riverfront residences. NGI also has significant holdings in Louisville, Los Angeles, Pittsburgh, Philadelphia and Memphis.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.