Turning Potential Into Reality

Reality is a one-of-a-kind private Fund, investing in the enhancement of real estate in Israel. The Fund invests in real estate with significant enhancement potential, a high level of complexity, and the possibility for fast disposition, alongside distressed properties and income-producing properties with strong potential for the creation of significant value. Reality finances, owns and manages assets valued at over billion Shekels.

Turning Potential Into Reality - The Fund aims to initiate and develop a new and value-added reality for properties by improving the buildings, the infrastructure, and the surrounding environment for the benefit of the residents and the entire area.
As a result of its unique strengths, the Fund has proven abilities to locate attractive and unique properties nationwide and increase their value considerably during both periods of recession and prosperity in the real estate market.

Reality Fund carries out enhancement activities in cooperation with the authorities, with the aim of being a catalyst for increasing the supply of the housing stock in Israel.



The Fund’s partners, each of whom comes from a different discipline, have cumulative experience of more than 80 years in the real estate market in Israel, with a sound knowledge and familiarity with the market and brokerage.


Dr. Vardi, formerly Head of the Israel Lands Administration, established Reality Fund with his partners in 2008. For more than 30 years Dr. Vardi has served in senior managerial and consulting roles in the real estate world, in the public and private sectors. He holds a Masters degree in Operations Research and a Ph.D. in Decision-Making Processes and Risk Management.


Managing Partner
CPA Ohad Rozen is an expert in preparation of valuations, providing economic opinions, strategic consulting and managing distressed companies. He serves as Chairman of the Board of the bulk transportation company, Taavura-Tifzoret. Ohad holds a BA in Accounting and Economics from Tel Aviv University.


Managing Partner
Adv. Assaf Vardi is a Managing Partner who has some 18 years of experience in managing and promoting real estate projects. He has extensive experience in betterment of real estate and in urban regeneration. Assaf holds a BA in Law and Business Administration from the Interdisciplinary Center Herzliya.


Project Planing and Development Manager
Adv. Claude Assor has considerable experience in the management of complex projects in the real estate field. For some 15 years he has been engaged in civil litigation where he represented the country’s leading insurance companies. He holds a BA in Economics and Business Administration from UCLA and a Law degree from the Interdisciplinary Center Herzliya.


Business Development and Asset Manager
Real Estate Appraiser Dan Menachem is Asset & Business Development Manager at Reality Fund. Dan has a wealth of experience in marketing and managing real estate, specializing in the identification of properties, conducting feasibility studies, valuations, acquisition and betterment. Dan holds a BA in Business Administration and Land Appraisal from the College of Management.


Initiation and Acquisition Manager
Real Estate Appraiser Shay Zfadia has 14 years of experience in the real estate sector. Before joining Reality, Shay served as Director of the Real Estate Appraisal Department at EMI, the Real Estate arm of the Harel Insurance Group. Shay has a BA in Business Administration from the Open University and a Masters degree in Law (LL.M) from Bar Ilan University.


Financial Manager
CPA Lior Fischer, the Fund’s Financial Manager, is responsible for bookkeeping and financial reporting. Previously, he served as Financial Controller in a leading public firm. He has a BA in Accounting and Political Science from the Hebrew University of Jerusalem and an MBA from Tel Aviv University.


Investor Relations and Project Management
Adv. Dar Gottlieb manages investor relations and projects at Reality Fund. Her role covers ongoing communication with the Fund’s investors, identifying new investors, developing new business, and project management. Dar, who has an LL.B from Tel Aviv University, completed her legal internship in the Capital Markets Department of law firm Goldfarb Seligman & Co. She was admitted to the Israel Bar in 2015.


Head of Community Relations and Innovation
Tana Wahrhaft-Ashkenazi, Head of Community Relations and Innovation, is responsible for community relations in the cities and neighborhoods in which Reality Fund’s properties are located, and for cooperation with the various authorities to assist in and make a meaningful contribution to the urban regeneration of each area.


Sarit Manzur is responsible for the management of current accounts at Reality as well as for closing quarterly financial statements. Sarit has a Type 3 diploma in Bookkeeping from the Ministry of Trade and Industry and a certificate in Payroll Accounting from the Israel Institute of Certified Public Accountants.


Property Operations Coordinator
Ohad Marcus has some 10 years’ experience in asset management and working with authorities. Ohad specializes in the field of municipal taxation, licensing, and collaboration with the appropriate departments at local authorities. He holds a B.A. in Business Administration, with a major in finance.


Business Development
Attorney Michael Chaim comes to Reality Fund after having managed, for two years, the mentor project of the Atalef Foundation, the official Flotilla 13 alumni organization. He previously managed the Foundation’s “Matzpen” (Compass) Program, where he engaged in development and empowerment of Flotilla 13 alumni. In his legal career, Adv. Chaim has specialized in commercial litigation and antitrust issues at law firm Agmon & Co. He has an LL.B (extended track) from Bar-Ilan University.


Mazal Navon is a senior bookkeeper, with knowhow and experience of many years in the field. She has a Bookkeeping Certificate Type 3 from the Ministry of Industry, Trade and Labour. She is responsible for administration of the ongoing bookkeeping of the Fund.


CPA Ido Blecher. Within the framework of his position he is involved with preparation of financial reports and administration of the ongoing finances of the assets. He has a BA in Accountancy and Economics from the Hebrew University. In his previous position he served as Manager of Audit Portfolios in the accountancy firm BDO.


18A Raoul Wallenberg St.,Building C, Tel Aviv 6971915