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.