{"id":1004103079,"date":"2014-08-29T11:29:19","date_gmt":"2014-08-29T19:29:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004103079"},"modified":"2022-12-08T15:42:26","modified_gmt":"2022-12-08T23:42:26","slug":"u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion\/","title":{"rendered":"U.S. to Remain Key Focus of Tel Aviv-based Clal Insurance\u2019s CRE Expansion"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Harper

Harper Court, Chicago<\/p><\/div>\n

Tel Aviv-headquartered Clal Insurance Group, Israel’s leading insurance, pension and financial services concern, has been busy building up its real estate portfolio in Israel and beyond, and the company has no intention of slowing down anytime soon. On the heels of its recent purchase of the 225,000-square-foot Harper Court mixed-use office complex in Chicago, Clal reveals that the U.S. will continue to be high on its radar for acquisitions going forward.<\/p>\n

In July, Clal, operating through its U.S. subsidiary, Clal U.S. Management, bought the Harper Court office and retail complex<\/a> in Chicago\u2019s Hyde Park neighborhood for $112 million in a sale-leaseback with the property\u2019s sole office occupant, the University of Chicago. \u201cThe Chicago deal represents a leap upward in Clal Insurance\u2019s real estate activity,\u201d Amir Shostak, head of real estate in Canaf, Clal\u2019s investment wing, stated in a press release. The company describes the acquisition as a deal that solidifies the real estate sector as a vital part of its investment pursuits.<\/p>\n

The Harper Court transaction followed Clal\u2019s 2013 joint venture purchase of a 49 percent ownership<\/a> stake in Chicago\u2019s 1.2 million-square-foot One South Wacker office building for $221 million, marking the insurer\u2019s debut in the U.S. market. But it\u2019s not just Chicago that is of interest to Clal; it\u2019s the entire country.<\/p>\n

In March, making entr\u00e9e into the U.S.\u2019s multi-family market, Clal snapped up Edgewater, N.J.\u2019s brand new, 100-unit Infinity Apartments in a joint venture with Waterton Associates L.L.C. for $48 million. And acting again in a joint venture with Waterton, Clal acquired the 334-unit 75 Tresser apartment community in Stamford, Conn., for $120.5 million earlier this week.<\/p>\n

Looking ahead, Shostak added, Clal will continue to train its eye on U.S. assets \u201cin the field of commercial and residential rentals.\u201d Outside the U.S., Clal plans to target retail and commercial properties in Israel, and office properties in Great Britain.<\/p>\n

The speed at which Clal has been buying properties is indicative of the company\u2019s strong commitment to enhancing its real estate portfolio. The transactions Clal has completed since the beginning of 2013 account for approximately 40 percent of the company\u2019s total real estate holdings.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tel Aviv-headquartered Clal Insurance Group, Israel’s leading insurance, pension and financial services concern, has been busy building up its real estate portfolio in Israel and beyond, and the company has no intention of slowing down anytime soon.<\/p>\n","protected":false},"author":969,"featured_media":1004103080,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21783,21742,21747],"tags":[],"class_list":["post-1004103079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"\nU.S. to Remain Key Focus of Tel Aviv-based Clal Insurance\u2019s CRE Expansion - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. to Remain Key Focus of Tel Aviv-based Clal Insurance\u2019s CRE Expansion\" \/>\n<meta property=\"og:description\" content=\"Tel Aviv-headquartered Clal Insurance Group, Israel's leading insurance, pension and financial services concern, has been busy building up its real estate portfolio in Israel and beyond, and the company has no intention of slowing down anytime soon.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-08-29T19:29:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T23:42:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/08\/Harper-Court-Chicago.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1071\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"U.S. to Remain Key Focus of Tel Aviv-based Clal Insurance\u2019s CRE Expansion\",\"datePublished\":\"2014-08-29T19:29:19+00:00\",\"dateModified\":\"2022-12-08T23:42:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion\\\/\"},\"wordCount\":398,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/08\\\/Harper-Court-Chicago.jpg\",\"articleSection\":[\"Chicago\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/u-s-to-remain-key-focus-of-tel-aviv-based-clal-insurances-cre-expansion\\\/\",\"name\":\"U.S. to Remain Key Focus of Tel Aviv-based Clal Insurance\u2019s CRE Expansion - 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