Gazit-Globe
Gazit Brasil Completes the Acquisition of 100% of Mais Shopping, Its Fourth Shopping Center in Sao Paulo, for a Total of R$ 200M (US$ 72M)

DGAP-News: Gazit-Globe

2015-03-01 / 09:33

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TEL-AVIV, Israel and SAO PAULO, Brazil, 2015-03-01 09:33 CET (GLOBE NEWSWIRE)
-- Gazit-Globe (NYSE:TSX) (TASE:GZT), one of the world's leading multi-national
real estate companies focused on the acquisition, development and redevelopment
of supermarket-anchored shopping centers in major urban markets, announced
today that its wholly owned subsidiary, Gazit Brasil Ltda.('Gazit Brasil'),
which purchased 60% ownership of 'Mais Shopping' in the city of Sao Paulo in
the beginning of February for R$125 million (approximately US$ 46 million),
will now purchase the remaining 40% stake in the asset for R$75 million
(approximately US$ 26 million). 

Mais Shopping is an urban shopping center located in a rapidly growing
neighborhood in the south of the city situated at an intersection surrounded by
a bus terminal hub, a metro station, the only government agency in the area,
universities, a hospital, corporate offices (IBM and Santander) and within
walking distance of a train station. It is estimated that approximately one
million people pass through this area on a daily basis. 

The shopping center was built in 2010, currently has 238 stores with a total
GLA of approximately 13,300 sqm and contains 770 parking spaces, comprising in
total of approximately 18,000 sqm of land. In addition, the transaction
includes 1,150 sqm of adjacent land available for future expansion. 

About Gazit-Globe

Gazit-Globe is one of the largest owners, developers and operators of
predominantly supermarket-anchored shopping centers in major urban markets
around the world. Gazit-Globe is listed on the New York Stock Exchange
(NYSE:GZT), the Toronto Stock Exchange (TSX:GZT) and the Tel Aviv Stock
Exchange (TASE:GZT) and is included in the TA-25 and Real-Estate 15 indices in
Israel. Gazit-Globe owns and operates 540 properties in more than 20 countries,
with a gross leasable area of approximately 6.4 million square meters and a
total value of approximately US$ 21 billion. 

About Gazit Brasil

Gazit Brasil is a wholly-owned subsidiary of Gazit-Globe. Gazit Brasil is
active in the acquisition, development and management of shopping centers in
Brazil. With the closing of this transaction Gazit Brasil owns and operates 7
shopping centers (one of which is under development) with a total GLA of over
90,000 sqm and a total value of more than R$1B (more than USD$ 350M). 

FORWARD LOOKING STATEMENTS

This release may contain forward-looking statements within the meaning of
applicable securities laws. In the United States, these statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements involve a number of known and unknown risks
and uncertainties, many of which are outside our control that could cause our
future results, performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause or contribute to
such differences include risks detailed in our public filings with the SEC and
the Canadian Securities Administrators. Except as required by applicable law,
we undertake no obligation to update any forward-looking or other statements
herein, whether as a result of new information, future events or otherwise. 

FOR ADDITIONAL INFORMATION

Gazit-Globe: Investors Contact: ir@gazitgroup.com, Media Contact:
press@gazitgroup.com 
Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000 / New York
Office, Tel: +1 212 897 9741 
Gazit Brasil: Mia Stark, CEO, Gazit-Brasil, Main: +55 11 3508 0830
mstark@gazitgroup.com 
Rua Olimpíadas 66, 4º andar - Vila Olímpia, São Paulo - SP - Brazil
News Source: NASDAQ OMX



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Language:    English       
Company:     Gazit-Globe   
 
 
             Panama        
ISIN:        PAL0605071A3  
 
 
End of News    DGAP News-Service  
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