Raanan Katz? For those who are major Miami Heat fans, the name “Raanan Katz” might ring a bell. He can often be seen courtside, at each and every home game. He is devoted to the team, he is devoted to their success and he owns half of the Miami Heat expansion. However…there is much more to Raanan. He is someone who has made a difference in the real estate industry, in both New England and South Florida, since the late 1970’s. Raanan Katz arrived in the United States in 1962 with a dream of playing pro ball—in the NBA. He has great interest from the Boston Celtics, and went to their training camp, but then was the last cut. From there, he went on to play for the U.S. All Star team. This lasted for a year, and after that year a new chapter began in Raanan’s life. He settled in the Boston area and purchased a small apartment building with the money he earned in the league. Once he purchased this property he quickly learned that it was [very] important to operate conservatively and properly maintain his property. It was something he also knew he was good at, and during the next 15 years he amassed over 2,000 apartments in the Greater Boston area.
Raanan Katz and Miami
In 1979, Raanan decided that he was ready for a change. Not necessarily a change in his career path, but in his investment strategy from residential real estate to commercial properties. He went on to acquire three retail properties in the Boston area as well as a block of stores in Miami. He found that it was relatively easy to manage and he was very good at it. Redeveloping, re-branding and fixing up those properties proved to make a difference in each area.
In the late 1980’s Raanan Katz and his Florida holdings thoroughly evolved from a so-called hobby to a full-scale development operation as he continued to acquire properties throughout the Miami Beach area. This essentially led to him opening an office in Miami in 1991. RK Associates was growing even then, and today RK Centers owns over six million square feet of commercial space in Florida and New England. Even over the course of over thirty years, Raanan continues to adhere to the principles which he learned first hand way back when he bought his first apartment building.
While it may place restraints on growth, Raanan insists on operating with a minimal amount of debt. Some might find this approach could potentially stifle growth; but it has proven to be the complete opposite. This conservative approach has actually ensured that the company sustains periodic declines in the real estate market, while other companies might struggle to keep above water.
This being said, Raanan Katz has raised the bar for commercial real estate, continuous investing his own personal funds towards the maintenance and beautification of each and every one of his properties. This vision is something that promises and provides for the long-term viability of his holdings due t his constant attention to detail in the management of his properties.