Since entering the real estate development arena in the 1970s, Raanan Katz has become widely recognized for his portfolio of first-class retail properties throughout New England and South Florida. As the founder and principal of RK Associates (now RK Centers), a privately held, family-owned real estate development company which currently owns over 6,000,000 square feet of retail space and 100,000 square feet of office space, Raanan Katz takes a “hands-on” approach to management. His conservative borrowing practices have resulted in a property portfolio with an extremely low debt structure, resulting in RK Associates being one of the more stable shopping center operators in the industry.
Raanan Katz invested his earnings from an early career as a member of the U.S. All Stars basketball team and purchased a small apartment building in Boston, Massachusetts. Over the next several years, he continued to invest in residential properties, amassing over 2000 apartment units in the Greater Boston area. In 1980, he began to switch to commercial holdings, acquiring three retail properties in Massachusetts. Then, in 1984, Raanan Katz purchased a block of stores on Miami Beach and continued to acquire properties throughout Southeast Florida and New England. RK Associates continually invests in maintenance and beautification of all its properties. The long-term vision of Raanan Katz provides for the long-term viability of the company’s holdings, due to the constant attention to detail regarding even the smallest maintenance issues. Raanan Katz has been formally recognized for his development efforts by government officials in Hallandale, Florida, Middletown, Rhode Island and Stoughton, Massachusetts.
In addition to his successful career in real estate, Raanan Katz is also known as an accomplished athlete. He arrived in the United States in his early twenties with a reputation as an excellent outside shooter on the Israeli National Basketball Team, and was invited to join the Boston Celtics training camp. Celtics Head Coach, Red Auerbach recommended Raanan Katz to play for the U.S. All Stars, the sparring team for the Harlem Globetrotters.
Biography: Raanan Katz, President – RK Associates
Raanan Katz first arrived in the United States in 1962 with the dream of becoming a member of the National Basketball Association. Raanan 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. Mr. 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, Raanan Katz decided to alter his investment strategy from residential to commercial property. After acquiring three retail properties in Greater Boston, Raanan 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, Raanan 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, Raanan 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, Mr. Katz has been a fixture at court-side in the Miami Arena. Through the joint efforts of both Mr. Katz and fellow partner, Micky Arison (Chief Executive Officer of Carnival Cruise Lines), the Heat have developed into one of the league’s most successful and profitable franchises.