TEL-AVIV, Israel and SAO PAULO, Brazil, Feb. 2, 2015 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:GZT) (TSX:GZT) (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"), has purchased 60% ownership of "Mais Shopping" in the city of Sao Paulo, for R$125 million (approximately US$ 46 million) including transaction costs. This is Gazit Brasil's seventh acquisition in Brazil.
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 south of the city, 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. The property will be managed by Gazit Brasil.
Gazit Brasil CEO, Mia Stark: "The acquisition of Mais Shopping strengthens our position in the city of Sao Paulo, the business capital of Brazil and the nation's wealthiest and most populous city with approximately 12 million people."
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 approximately R$1B (USD$ 350M).
FOR ADDITIONAL INFORMATION
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 email@example.com
Rua Olimpíadas 66, 4º andar - Vila Olímpia, São Paulo - SP - Brazil
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.