California's Community Developer

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Who We Are

Welcome to Galaxy Holding, a real estate investment and development firm based in Beverly Hills. Since 1979, we have developed, redeveloped, and acquired commercial and multi-family properties throughout California and the Western United States. 


Under Raffi Cohen’s guidance, Galaxy builds only the highest quality projects for our clients and partners. Together, we preserve the past, celebrate the present, and embrace the future.

What We Do

As a dedicated principal investment organization, Galaxy maintains a reputation for utilizing entrepreneurial investment and development strategies.


Galaxy has the experience and resources to execute complex real estate transactions including direct equity investments in real property, debt investments secured by real estate, and privately-placed real estate securities and joint ventures across product, geographic, and industry boundaries.



With a passion for residential communities, Galaxy has developed over 2500 timeless luxury apartment and housing units, working with city planning departments to secure the entitlements.



Starting with Figueroa Plaza in Downtown Los Angeles, Galaxy has gained a reputation for outstanding commercial projects. Working closely with over 25 municipalities including Beverly Hills, our team conducts extensive studies and research to devise a development plan and secure entitlements.


Mixed Use

Southern California’s design tastes are changing to reflect an emerging vertical lifestyle. Galaxy is currently responding with over 1m square feet of high-rise urban living projects with retail and commercial tenants.


5 Pillars of Galaxy

1. Value-added investment opportunities involving repositioning, prudent management, new development, leasing risk, redevelopment, or below-market contract rents.

2. Core assets with little or no deferred maintenance and a stabilized rent roll in a superior location. 


3. Core-plus assets which can achieve strong yields via lease-up or a stabilized rent roll. 

4. Stabilized assets which can achieve strong yields.


5. Sale/Leasebacks.



The underlying strategy in all Galaxy investments is to seek above-average absolute returns with low risk and low volatility. Galaxy endeavors to identify unrecognized opportunities through a network of local owners/operators and relationships with banks, brokers, trustees, law firms, portfolio servicers, title companies, and other real estate service providers.


Galaxy’s real estate philosophy is generally guided by the fundamental premise that future cash flow, not “trophy status” or fashion, ultimately determines the value of an asset. Galaxy believes that rigorous due diligence, the use of conservative assumptions in projecting cash flows, and careful assessment of possible downside scenarios are the best methods for consistently generating returns.


Galaxy aggressively manages the capital structure of its investments, and it has always adhered to a policy of prudent leverage. By virtue of its close relationship with financial institutions, Galaxy has been able to obtain the best financing terms available in the market in order to provide each transaction with the greatest protection possible in a downside scenario.


In evaluating an investment opportunity, one of Galaxy’s primary considerations is the potential exit strategy. The firm focuses on making investments in well-located assets that should appeal to a wide group of subsequent buyers. In addition, factors that reduce the value of an asset (such as ground leases, preemptive rights, long-term management contracts, or other restrictions on the owner’s control) are closely scrutinized during due diligence to determine the effects on value. Galaxy strives to seek investments with multiple exit strategies including private and institutional one-off sales and portfolio sales within common asset classes.


Galaxy has effectively applied this investment strategy throughout a variety of market conditions. As competitive pressures in Southern California reduce expected yields, Galaxy expands the geographic and product scope of its investment activities while maintaining the discipline of its historically successful strategy.


Raffi Cohen, the firm’s founder and principal officer, began his development career with apartments, retail centers, and office buildings. Subsequently, Raffi developed a keen interest in large-scale development in Downtown Los Angeles. He cultivated close working relationships with the City of Los Angeles and State of California. Recognizing the untapped potential of a rundown area on Figueroa Street in Downtown Los Angeles, Raffi envisioned what later became Figueroa Plaza: a 660,000 square foot twin office tower complex located at First and Figueroa Streets.


Since then, Raffi has continued to invest in and acquire Southern California properties zoned for a variety of uses.


An optimist with a vision: His passion, dedication, conviction, and perseverance are the characteristics that have elevated him to become a leader in Southern California’s real estate market. As an active member of the Urban Land Institute, Raffi is responsible for improvements that will enhance Southern California’s business and residential communities. 


He received an architectural award from the City of Beverly Hills in 2001 for the extensive renovation of 421 South Beverly Drive, an office building in Beverly Hills. He also was appointed in 1987 to serve on the Downtown Strategic Plan Advisory Committee, known as the LA 2000 Committee, by former Los Angeles Mayor Tom Bradley.


Raffi maintains strong, long-term relationships with institutions, architects, engineers, and subcontractors. While Galaxy assigns a team for each project, Raffi is extremely attentive to detail and ensures that projects are completed on time, that the budget is maintained, and that the tenants are happy.




3m sqft


Units Completed



Current projects

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We are currently engaged on a number of high-density mixed-use projects in the mid-town and downtown areas within Los Angeles and San Pedro, California


Please contact us for information on our current projects.