June 15, 2016- Tampa, FL- Electra Real Estate of Tel Aviv, Israel, is proud to announce the merger of Electra America and ELRH investments, headquartered in North Palm Beach, Florida.
The newly merged company, Electra America, is a subsidiary of Electra Real Estate (ERE) which is publicly traded on the Tel Aviv stock exchange, and shall be its primary U.S. subsidiary. Backed by the significant resources of ERE and with a solid investment history throughout the world, Electra America will continue its focus on multi-family investment in the southeastern United States, with the goal of delivering superior risk adjusted returns to its shareholders and investors. Through the merger, Electra America will own interests in over 19,000 apartment homes in 66 multi-family communities throughout the southeast, valued at over $1.5BN.
Joe Lubeck, CEO and managing partner of ELRH, assumes the title of CEO of Electra America immediately. He recently commented about the transition of the company. “The name change makes it official – we are the first office in the United States of a long-standing global real estate company. We focus on purchasing, renovating and managing multi-family properties in great locations where there is population growth and job growth.”
Located in Israel, Electra Real Estate (ERE) is a yield-bearing real estate company. Established in 1994, ERE specializes in the income-yielding commercial property sector, both in Israel and abroad. In addition to multi-family communities, ERE’s holdings include office buildings, retail, logistics centers and hotels. Electra America is the investment partner of Robbins Property Associates of Tampa, Florida.
For more information, visit www.robbinspropertyllc.com.
About Robbins/Electra America
Robbins/ Electra America, LLC, (REM) is a joint venture between Robbins Property Associates and Electra America.REM is a private owner-operator, providing services including apartment management, in-house due diligence, property acquisition and disposition, and construction project management. Founded in 2009 with the objective to provide superior service, it has become a leader in the multi-family housing management industry. Along with their equity partners, the company currently owns 66 communities with over 19,000 units in Georgia, Florida, Maryland, North Carolina, Texas and Virginia.
Based in Tampa, FL, and active throughout the Southeast and Texas, REM prides itself on both customer and employee satisfaction. They have been named a top employer by the Tampa Bay Times four consecutive years since 2013. The combined experience of onsite and corporate staff is what provides REM with its competitive edge, and why REM is a leader in the apartment management and investment industries. For more information about Robbins/Electra America, visit http://www.robbinsre.com.
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