Ran founded Northwind Group in 2008 and oversees all company investment activities across both the equity and debt strategies. Throughout his career, Ran has executed numerous real estate transactions in the U.S. totaling over $3.0 billion in value, amassing a well-diversified portfolio in NYC consisting of residential and office properties, a +$600 million portfolio of healthcare and senior living properties as well as establishing Northwind’s debt platform including the formation of Northwind’s dedicated closed-ended real estate debt funds. Under Ran’s leadership Northwind has evolved into a reputable institutional grade private equity firm, consistently improving its capabilities, expanding its operations, know-how and industry recognition, while adhering to strict core values of honesty and transparency. Ran is a sought-after speaker in the NYC real estate community and is constantly quoted by several real estate news outlets. Prior to forming Northwind Group, Ran co-founded and served as CEO of EXRE, the real estate investment fund of one of Israel’s largest family offices, which invested in a 5 million square feet portfolio of 32 grocery anchored shopping centers located in Florida and Texas.
Prices are determined by two factors, obviously the market demand and supply, but also how much it costs to build. Currently, we're seeing still a lot of commodities—lumber, concrete, steel—at very high prices relatively to two or three years ago. Yes, some prices went down; timber and wood price went down a bit. But still we're seeing an average cost to build a house that's much higher than it was two or three years ago pre-pandemic. Builders will only build now if they're sure they're going to be able to get their price. So I don't see prices going down that fast because of that reason. Affordability is going to remain a big issue—mortgage is more ex, pensive; furnishing the home is more expensive. So a lot of issues in the supply chain are still causing delays, and housing will not be affordable in the near future unless we're going to see a huge new supply coming in of new houses. I don't see that happening any time soon because of prices.