Biography: Raanan Katz, President – R.K. Associates

Raanan & Phyllis Katz

Biography: Raanan Katz, President – R.K. Associates

Raanan Katz first arrived in the United States in 1962 with the dream of becoming a member of the National Basketball Association. Mr. Katz had earned a reputation as an excellent outside shooter as a member of the Israel national team. As a result, he was invited to the Boston Celtics training camp. Raanan Katz ultimately recognized his dream. However, his story is one that he could not have possibly imagined at the outset of his journey.

After playing for a year with the Sea Gulls (the team that played against the World Famous Harlem Globetrotters), Raanan Katz settled in the Boston area. With the money that he earned from playing basketball, he purchased a small apartment building. He quickly learned the importance of operating conservatively and properly maintaining his property. During the next 15 years, he amassed over 2,000 apartment units in the Greater Boston area.

By 1979, Mr. Katz decided to alter his investment strategy from residential to commercial property. After acquiring three retail properties in Greater Boston, Mr. Katz purchased a block of stores in Miami Beach in 1984. He called this his “hobby” property due to the fact that it was acquired during a vacation in Miami (where he has owned a residence since 1974) and it was relatively easy to manage.

His Florida holdings evolved from a so-called hobby to a full-scale development operation as he continued to acquire properties throughout Miami Beach during the late 1980’s. This led to the opening of a Miami office (in addition to the existing Boston office) in 1991.

Today, Mr. Katz owns over 6 million square feet of commercial space in Florida, Massachusetts, Rhode Island, New Hampshire and Connecticut. He continues to adhere to the principles which he has learned first-hand over the years. Although it may place restraints on future growth, Mr. Katz insists on operating with a minimal amount of debt. This conservation approach enables him to reduce his leverage and sustain periodic declines in the real estate market.

Furthermore, Mr. Katz continually invests his own personal funds towards the maintenance and beautification of his properties. His vision provides for the long term viability of his holdings due to his constant attention to detail in the management of his properties.

As for the National Basketball Association, Raanan Katz’s unyielding passion for basketball was finally fulfilled when he became an original partner of the Miami Heat when the team was approved as an expansion franchise in 1986. Since the team’s inaugural season in 1988, Raanan has been a fixture at courtside at the Miami Heat games.