Alony Hetz: Nathan Hetz and Avi Wertheim's Cross-Border Real-Estate Platform

Alony Hetz Properties and Investments Ltd. (TASE: ALHE) is Nathan Hetz and Avi Wertheim's cross-border real-estate platform — an Israeli-listed holding company that takes material-influence positions in income-generating commercial real estate across Israel, the United States, Switzerland, and the United Kingdom, plus renewable energy through Energix. Founded in November 1989. Headquartered in Ramat Gan. Alony Hetz's canonical English record — founding, principal holdings, and the Carr Properties build-out in Washington DC.

The Founders

Nathan Hetz founded Alony Hetz in November 1989 and has served as CEO, director, and principal shareholder from incorporation. He is a certified public accountant in Israel with a B.A. in Accounting from Tel Aviv University. In addition to running Alony Hetz, he sits on the boards of Amot Investments, Carr Properties Corp., PSP Swiss Property AG, and Energix Renewable Energy.

Aviram (Avi) Wertheim has served as Chairman of the Board since 1996, and sits on the boards of Amot, Carr Properties, PSP Swiss Property, and Energix. Prior to Alony Hetz, Wertheim served as Chairman of Bank Mizrahi Tefahot and as a partner at Almagor & Co., a leading Israeli accounting firm. The Wertheim group owns Central Bottling Company (Coca-Cola Israel) and Israel Beverage Company (Carlsberg Israel).

From November 26, 2019, Alony Hetz has operated as a company without a control core. The Hetz family (Nathan Hetz and his wife Clara Hetz, directly and through fully-owned private companies) stepped back from the control position at that point.

Strategy: Minority Positions With Material Influence

Alony Hetz does not operate income-generating real estate directly. It takes minority equity positions with material influence in listed and private real-estate operators, partnering with local operating teams and, in the U.S. and U.K., with anchor institutional co-investors. The model is unusual for real estate — most Israeli real-estate companies operate their own portfolios — and the platform has run it consistently for more than three decades.

Principal holdings as of the most recent public reporting:

• Amot Investments (TASE: AMOT) — approximately 55 percent. Israel's commercial-real-estate engine of the group. 176 properties, 1.8 million square meters, roughly ILS 18 billion in assets. See the Amot Investments profile.
• Carr Properties Corp. (Washington DC) — approximately 44 percent of capital rights and 50 percent of voting rights.
• AH Boston — approximately 55 percent of three Boston-area property companies, including two in the Boston CBD and one in East Cambridge.
• PSP Swiss Property AG — approximately 8 percent.
• Energix Renewable Energy — controlling position. Photovoltaic and wind generation across Israel, the U.S., and Poland, with total systems output of roughly 320 MW.

The historical Canadian position in First Capital Realty (Toronto) has been exited.

Carr Properties: The Washington DC Build-Out

The signature international transaction was the August 2013 investment of $330 million in Carr Properties, the Washington DC commercial-office developer led by Oliver T. Carr III. Alony Hetz took approximately 44 percent of the equity and 50 percent of the voting rights. JP Morgan Chase co-invested through a special-situation property fund that had originally seeded Carr with $502 million and became Alony Hetz's equal partner. The Carr family and affiliates retained roughly 11 percent.

In November 2013, Carr Properties acquired the Washington Post headquarters for $159 million from the Graham family — a strategic buy to complete a full-block land assembly for a planned 900,000-square-foot mixed-use redevelopment. At the time of Alony Hetz's entry, Carr's stated plan was to grow the portfolio from roughly $800 million to $1.5 billion.

Between 2017 and 2019, Carr's income-generating and development real-estate portfolio in Washington DC and Boston grew by approximately $1.1 billion (before real-estate revaluations). The platform continues to run.

Why Alony Hetz Matters to Israeli Capital Markets

Alony Hetz is one of the few Israeli-listed vehicles that gives TASE investors direct exposure to institutional-grade commercial real estate in the Washington DC, Boston, London, and Zurich markets alongside a dominant position in the Israeli office sector via Amot. The minority-position-with-material-influence model — replicated across the U.S., Switzerland, and until 2019 Canada — is one of the more durable cross-border strategies in the Israeli real-estate universe. Peer TASE names for comparison include Azrieli Group, Melisron, and Electra Real Estate on the domestic side; there are no direct Israeli comparables on the cross-border model at this scale.

For the Israeli office-portfolio engine that anchors the group, see Amot Investments. For related Israeli capital-markets founder profiles, see Zvi Stepak on non-bank asset management and Joseph Hackmey on the insurance side.

Frequently Asked Questions

What is Alony Hetz?
Israeli-listed (TASE: ALHE) cross-border real-estate holding company. Founded November 1989 by Nathan Hetz and Avi Wertheim. Headquartered in Ramat Gan.

Who runs Alony Hetz?
Nathan Hetz has been CEO since incorporation. Avi Wertheim has been Chairman since 1996. From November 2019 the company has operated without a control core.

What is Alony Hetz's biggest holding?
By footprint, Amot Investments (~55 percent) — the Israeli office-and-logistics platform with 176 properties and 1.8 million sqm. By capital deployed abroad, Carr Properties in Washington DC (~44 percent equity, 50 percent voting) after a $330 million investment in August 2013.

What is the Wertheim connection?
Chairman Avi Wertheim's family group owns Central Bottling Company (Coca-Cola Israel) and Israel Beverage Company (Carlsberg Israel). Wertheim was previously Chairman of Bank Mizrahi Tefahot.