Gazit Brasil Acquired the Remaining 30% Stake in Extra Itaim and Now Owns 100% of this Prime Urban Asset
(Thomson Reuters ONE) -
TEL-AVIV, Israel and SAO PAULO, Brazil, April 27, 2017 (GLOBE NEWSWIRE) --
Gazit-Globe (NYSE:GZT) (TSX:GZT) (TASE:GZT), a leading global real estate
company focused on the ownership, development and management of supermarket-
anchored shopping centers in major urban markets, announced today that its
wholly owned subsidiary, Gazit Brasil ("Gazit Brasil"), has acquired the
remaining 30% stake in Extra Itaim, located on one of the main avenues in Sao
Paulo city, Juscelino Kubitschek "JK" Avenue, for R$94M.
A photo accompanying this announcement is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/770cca60-a166-4f49-888b-
edd3d4861ab4
Extra Itaim is a prime urban real estate asset located in the new financial
center of the city, with approx. 1M inhabitants in the 5 kilometers radius, in
one of the most desirable and dense locations in the city of Sao Paulo. The
property is well located on the famous JK avenue, centered short distance
between Park Ibirapuera (the 'Central Park' of Sao Paulo), and Park de Povo,
newly vibrant setting for the Itaim neighborhood.
The Itaim neighborhood is one of the best and wealthiest residential region in
the city, known for its cluster of triple A office buildings with international
enterprises such as Bloomberg, Goldman Sachs, Google, Facebook and Credit
Suisse.
The property is leased to Extra Hypermarket (Casino Group) with a total GLA of
18,260 sqm, gross area of 57,080 sqm with 1,365 parking spaces on a land area of
17,850 sqm.
Gazit Brasil CEO, Mia Stark: "The consolidation of ownership in this prime real
estate block, which is considered one of the most attractive locations in town,
presents significant upside potential through value added initiatives and
further strengthens Gazit's quality portfolio in one of the most populous cities
in the world, Sao Paulo city."
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.
About Gazit-Globe
Gazit-Globe is a global owner, developer and operator of high quality necessity-
driven supermarket-anchored retail properties in urban markets. 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-
35 index in Israel. As of December 31, 2016, Gazit-Globe owns and operates 426
properties in 20 countries, with a gross leasable area of approximately 6.6
million square meters and a total value of approximately US$ 22 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 9 income
producing assets with a total GLA of approximately 138,000 sqm and a total value
of about R$2B (approximately USD$640M).
FOR ADDITIONAL INFORMATION
Investors Contact: IR(at)gazitgroup.com, Media Contact: Press(at)gazitgroup.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Gazit-Globe via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 27.04.2017 - 09:40 Uhr
Sprache: Deutsch
News-ID 538686
Anzahl Zeichen: 4829
contact information:
Town:
TEL AVIV-YAFO
Kategorie:
Business News
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"Gazit Brasil Acquired the Remaining 30% Stake in Extra Itaim and Now Owns 100% of this Prime Urban Asset"
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