FAIRE's investors hail from the US, Canada, the UK, Belgium, and other countries. Recent investors include CNA Financial Corporation (NYSE: CNA) and private banker Lester Crown, a former chairman of the Conference of Presidents of Major American Jewish Organizations.
FAIRE chairman Shlomo Grofman said that the NIS 50 million was part of FAIRE 2 Fund's NIS 230 million financing round. He noted that the fund's structure enabled it to continue investing in residential property even during a recession. "Despite the global crisis, especially in the US and UK, international investors continue to see Israeli residential real estate as a worthwhile investment channel," he said.
Grofman added, "It's true that the real estate industry in general feels the recession to some extent, but as far as residential real estate is concerned, we've lately been seeing the purchase of apartments for investment, not as residences.
