Menora Financial Corp (MFC) is a privately held company primarily focused on multi-family Real Estate and Health Care Investment (Skilled Nursing/Assisted Living). The company is headquartered in Skokie, IL, with offices in South Bend, Indiana, and Israel.
Menora Financial Corp was founded in 1995 by Shalom Menora. Shalom was previously the Chief Financial Officer and a partner in Tri-United Companies, a real estate company, founded in 1970 by his late father, Moshe Menora. In 2016, Judah Menora joined MFC, and is the third generation in the business.
A strong financial balance sheet
MFC has invested in multi-family apartments for more than 30 years in the Midwest, Southeast and Southwest. Its primary business is investing in large garden-style apartment rental communities. Menora has seen many cycles of real estate including the Savings and Loan Crisis of 1986 coupled with the market crash (black October) in 1987, the buildup and fall of the Dot.com boom in 2000, the sub-prime crash and recession in 2008, and the long run-up to post-covid free money and subsequent interest rate squeeze of 2023. Through it all, MFC relies on a strong financial balance sheet, quality and consistent private equity investment partners, knowledge of finding the right properties, its reputation for closing, and finally its ability to guide the properties to success once purchased. MFC does not do deals to generate fees nor does it chase prices. MFC waits for the right deals at the right price to allow it to perform over time and not worry about timing of the market.
Diversification into Healthcare
Sterling Healthcare Management was opened as a brand of MFC in 2013, as part of a strategy to diversify and allow for more balanced growth in the company.
Located in the Midwest, Sterling Healthcare Management focuses on Skilled Nursing and Assisted Living facilities.
In addition, MFC has invested in over 30 start-up technology companies since 1995 and continues to invest, albeit on a much smaller, selective basis. MFC has been involved in many exciting changes to the world as an investor. This includes being one of the original internet companies in Israel and investing in some of the first on-line commerce sites, companies that developed health innovation, and other technologies.
MFC was a partner in the Jerusalem Basketball Club (Hapoel Jerusalem) from 2013 to 2020 and was part of the ownership team that saw the team move to its 10,000-seat arena in Jerusalem and win its first two league championships in 2015 and 2017.
Principal & CEO
Born and raised in the Rogers Park neighborhood of Chicago, he attended Yeshiva University in New York. Shalom graduated in 1985 earning his degree in Accounting. He started his career as an auditor for Deloitte Touche (then Touche Ross) in the New York office for several years and also passed the CPA exam. In 1988, his father was looking to take advantage of the opportunities abound after the Savings and loan collapse, and Shalom was offered the opportunity to join his father’s company as the controller and head of operations.
Shalom and his father invested in thousands of apartments in Oklahoma, Texas, Missouri, Kansas, Michigan, Arizona and Illinois, and built their own management platform. Most of the portfolio was sold between 1996 and 2000.
In 1995, Shalom and his family moved to Israel, where his children were raised, and all served in the IDF. Shalom began investing in hi-tech companies, including running one of the first internet companies, which merged in 1997 with the largest company (NETVISION). He then focused on investing in technology companies for the next 10 years, including an exit to a public offering with QXL.com (the European equivalent at the time to eBay).
In 2008, when the subprime crisis put the US into a deep recession, Shalom decided it was time to once again start buying properties when no one else wanted to. Déjà vu of 1988- 1992.
After purchasing several properties, Shalom suffered a personal tragedy when his father’s plane crashed in 2010, resulting in the loss of his father and two daughters. At this point, Shalom wanted to do more than just own apartments and began investing and operating Skilled Nursing /Assisted Living facilities, as a way of being involved in caring for others. This balance has become important in the strategic path of the company as well as his personal life.
Shalom and his wife share 9 kids and 20 grandkids. They split time between Chicago and Israel. Shalom enjoys playing golf, singing and playing the guitar and also finds time to give a weekly lecture on the weekly bible portion.
VP of Finance & Acquisitions
Judah was born and raised in Bet Shemesh, Israel. After completing high school, he fulfilled his mandatory service in the Israel Defense Forces, serving as a tank driver. Following his military service, Judah pursued higher education, earning a Bachelor of Arts in Business with a minor in Entrepreneurship from Reichman University (IDC) in Herzliya.
Judah joined Menora Financial in 2016. That same year, he and his wife Talia relocated to South Bend, Indiana, where he began working in the accounting department as a staff accountant for the Sterling Healthcare division. His responsibilities included managing payroll, financials, and day-to-day accounting tasks.
In 2019, after returning to Israel, Judah was appointed as the Controller for the Sterling Healthcare division. His role expanded in 2020 when Sterling decided to outsource their healthcare accounting. Judah then began to involve himself in the Real Estate sector of Menora Financial Corporation (MFC), contributing to deal analysis and overseeing finance for the entire Menora group of companies.
In 2022, Judah’s commitment and expertise led to his promotion to Vice President of Finance. In this role, he is responsible for overseeing all aspects of financing, acquisitions, and financial review for both the Real Estate and Healthcare portfolios of the company.
Judah, Talia, and their two daughters currently reside in Karmei Gat, a suburb of Kiryat Gat, located 15 minutes from Ashkelon in Israel. In his personal time, Judah is passionate about long-distance running, reading, and playing soccer and basketball. He also enjoys exploring the culinary arts, particularly sous vide and smoking foods, where he experiments with various flavors and techniques in the kitchen.