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Alony Hetz enters the US market with $330 million investment in Carr Properties

Alony Hetz and JPM Morgan own 88% of the Washington DC income-producing properties company.

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/ By Aviv Levy /

Alony Hetz Property and Investments Ltd. (TASE: ALHE) has closed the deal to enter the US market, with a $330 million (NIS 1.2 billion) investment in Carr Properties Inc., an income-producing properties company that operates in the greater Washington DC area. Alony Hetz’s partner in the deal, the Special Situation Property Fund of JP Morgan Chase Bank (SSPF) has invested the same amount. The two companies own 88% of Carr Properties, which will operate as a real estate investment trust (REIT).
Carr Properties owns 21 office buildings, with 243, 000 square meters in leasable space, which is forecast to generate net operating income of $51 million in 2013.

Alony Hetz, controlled by CEO Nathan Hetz and the Wertheim family, forecasts a multiyear average dividend yield on the investment of 6%.
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