Alony Hetz Property and Investments Ltd. has been expanding its US operations, and on December 11, 2016 reported that it had signed, together with a partner, binding agreements to buy a Boston office building for $190 million. The building in East Cambridge has 21,000 square meters of space. Alony Hetz will hold a 55% of the property, with the rest held by its US partner Oxford Properties Group, which will also manage it. The two companies have already made a $15 million deposit and intend to close the deal by mid-February, contingent on conditions precedent. According to Alony Hetz estimates, the property will generate $8 million net operating income (NOI) next year, which will rise to $13 million in 2021.