AGG Partners Abe J. Schear and Philip G. Skinner were interviewed for the GlobalAtlanta.com piece, "For Israeli Investors, Atlanta Office Deal Yields Dividends." Mr. Schear and Mr. Skinner described the recent deal in which anIsraeli company invested $3 million for a stake in a Gwinnett County office complex. Steve Berman, the Atlanta developer who orchestrated the deal, convinced Profimex (Israel) Ltd., a private equity real estate firm with $26 billion in assets worldwide, to put up half the money for the $6 million purchase of the 100,000-square-foot Northwoods Business Center off Peachtree Industrial Boulevard. Mr. Schear and Mr. Skinner introduced Mr. Berman and Brian Ganath, his partner at OA Development Inc., to Profimex.
Mr. Skinner said U.S. commercial real estate is attracting increased attention from foreign investors.“The purchase prices are low, the dollar is low,” said Mr. Skinner. “You can get more for your shekel [the Israeli currency] and cash investors can find good opportunities under these conditions." Fellow partner Abe Schear and Shelly Rabinovitch, an Israeli attorney hired by their firm five years ago, worked on the Northwoods project and are currently working with other foreign investors as well. To read the article and watch the interview, please click here.
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