Manulife Investment Management formed a joint venture with Harel Insurance Co. Ltd., with a view to investing $1.2 billion in U.S. real estate.
The partnership will target value-added, core-plus and core investment assets in select U.S. markets, with a focus on buying office, industrial and multifamily properties.
Harel Insurance Co. is a subsidiary of Harel Insurance Investments & Financial Services Ltd.
Cardo Holdings, Manulife's exclusive placement agent in Israel, was the partnership's adviser.