Overseas Buyer Finds Charlotte

Azrilei Group isn't widely known in the US, but the Israeli company made a splash recently in Charlotte by inking a deal to buy One Wells Fargo Place for $245M.
 
Citing a quiet period, Azrilei declined to discuss the deal, but this isn't the first  US property the mainly Israel-focused (offices and retail space) firm has bought. Earlier this year, it spent $107.5M for Plaza at Enclave in Houston, mostly leased long-term to Dow Chemical. Similarly, One Wells Fargo is mostly leased long-term to the bank of the same name. The deal is part of a wider  trend of overseas investors seeking the relative safe haven of US properties.Direct foreign investment  in the US, which generally means plunking down cash for real estate and companies, totaled $234B  in 2011, up 14% over 2010, according to the US Commerce Department.
 

Continue reading this story with a free account

Log in or register
Related Topics: Dow Chemical , One Wells Fargo
Sign up for more articles like this
Subscribe to Bisnow's Charlotte Newsletters
Related Stories

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

Luxury Marriott Hotel Will Take Space In Charlotte Office Conversion

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

CBRE IM Buys Net Lease REIT For $1.6B, Plans More Investment

The Difference Between Service And Hospitality That Makes A Flexible Workspace A Success

Beyond The Boom: How Miami's CRE Market Continues To Be Resilient

Sixers And Flyers Unveil Renderings Of South Philly Arena Due In 2030

The Opportunities, Limitations And Benefits Of Reserved Investor Funds

After 5 Years Of Gains, Commercial Real Estate's C-Suites Just Got Less Diverse