Israel climbed to eighth place among countries investing in the U.S. commercial real estate market in 2025, according to a report by global real estate and investment management giant JLL obtained by ynet and Mamon.
Israel also ranked 11th worldwide for outbound commercial real estate investment and 11th in Europe. The figures refer to commercial real estate transactions outside Israel by Israeli investors, with each deal valued at $5 million or more.
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Israel also ranked 11th worldwide for outbound commercial real estate investment and 11th in Europe
(Photo: AP Photo/Lynne Sladky)
The report points to a significant shift in Israeli capital flows over the past year. After a record year in Europe in 2024, Israeli capital returned strongly to the U.S. market in 2025, while Europe remained a central arena for activity. According to JLL, the shift was reflected not only in geography but also in the type of investors involved: private capital was more prominent in the United States, while institutional investors played a larger role in Europe.
Israeli investment in U.S. commercial real estate totaled about $1.06 billion in 2025, compared with about $529 million in 2024. That represents a jump of roughly 101% in one year and the highest level of Israeli investment in the U.S. market since 2021.
The surge in the United States is the most striking figure in the report. Israeli commercial real estate investment in the U.S. stood at about $442 million in 2023 and about $529 million in 2024, before rising to more than $1 billion in 2025.
As a result, Israel ranked eighth among foreign investors in U.S. commercial real estate in 2025, behind Canada, Japan, Sweden, Norway, Britain, Australia and France. It ranked ahead of countries including Singapore, Bahrain, South Korea, Switzerland, Taiwan, Spain and Germany.
50 deals in Europe
In Europe, Israeli investment totaled about $1.93 billion in 2025, down from a record $2.44 billion in 2024. Still, the figure remained significantly higher than in 2023, when Israeli investment in European commercial real estate totaled about $1.15 billion.
Israeli investors completed 50 deals in Europe during 2025, including five transactions worth more than $100 million each. Britain remained the main destination, alongside significant interest in the Netherlands, Spain, Germany and Poland.
The central finding from the analysis is that total Israeli investment in Europe and the United States combined remained almost unchanged in 2025, at about $2.99 billion, compared with about $2.97 billion in 2024. In other words, Israeli capital did not reduce its activity abroad, but changed its mix.
Across all Israeli real estate investment abroad, the leading sectors in 2025 were industrial and logistics, offices and hospitality. Industrial and logistics assets led activity with about $885 million in investment. Offices remained significant, with about $853 million in investment. Hotels and hospitality totaled about $601 million, while retail reached about $391 million.
Mor Ziv, head of real estate investment at JLL Israel, said the 2025 figures show that Israeli investors are no longer merely entering global markets, but are managing a more mature investment mix.
“Israeli investors today examine each market according to asset quality, financing structure, the local partner, risk level and the ability to generate long-term value,” she said.
“One example is the Menora Mivtachim transaction we advised on this year, an investment of more than $50 million in a logistics real estate fund by Hillwood Investment Properties in the United States,” Ziv added. “It is a deal that illustrates the growing maturity of Israeli capital: an experienced institutional investor, a deep American market, a logistics sector at the center of demand and a leading local partner with decades of experience.”
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