This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gazit-Globe: Royal Senior Care Completes Transaction To Sell The Majority Of Its Wholly-Owned Senior Housing Facilities For A Total Of Approximately US$ 230 Million

TEL-AVIV, Israel, Aug. 16, 2012 (GLOBE NEWSWIRE) -- Gazit-Globe (TASE:GLOB) (NYSE:GZT), one of the world's leading multi-national real estate companies focused on acquisition, development and redevelopment of supermarket-anchored shopping centers announced today that its private subsidiary, Royal Senior Care, LLC and its members ("RSC"), completed a transaction to sell the majority of its wholly-owned senior housing facilities. Royal Senior Care, LLC is a private subsidiary in which Gazit Senior Care, Inc. (a private subsidiary fully owned by Gazit-Globe) holds a 60% interest and is active in the senior housing field in the United States. The senior housing facilities, which include 1,310 units, are being sold for a total gross consideration, before debt and transaction costs, of US$ 230 million, or US$ 175,500 per unit on average, (of which Gazit-Globe's portion is US$ 138 million).

RSC will continue to own and manage its joint venture interest in two senior housing facilities, one fully owned senior housing community, and a tract of land held for future development.

As result of this transaction, Gazit-Globe will record a gain of approximately US$ 18 million and net proceeds of approximately US$ 70 million.

Roni Soffer, President of Gazit-Globe: "We are pleased to announce the closing of this transaction. This transaction is a great achievement for our local team which shows the group's ability to successfully acquire, manage, and develop properties and platforms, including within the health care real estate sector. It also shows our ability to take  advantage of business opportunities, realize suitable returns and create value for our shareholders. This transaction is another step in our strategy to focus management's attention on our main business operations, to recycle capital to those  operations, and to continuously enhance our corporate efficiency, all while we explore new opportunities in the global real estate markets."


Gazit-Globe is one of the largest owners and operators of supermarket-anchored shopping centers in the world. In addition, the Company is active in North America in the healthcare real estate sector. Gazit-Globe is listed on the Tel Aviv Stock Exchange (TASE:GLOB) and is included in the TA-25 and the Real-Estate 15 indices in Israel. The Company is also listed on the New York Stock Exchange (NYSE:GZT). The Group operates properties with a total value of approximately $19.0 billion in more than 20 countries and owns and operates over 600 properties with a gross leasable area of approximately 6.7 million square meters. .


This release may contain forward-looking statements within the meaning of the U.S. federal securities laws. 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. Except as required by 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.
CONTACT: Media Contact:
         Investors Contact:
         Gazit-Globe Headquarters,
         1 HaShalom Rd., Tel-Aviv, Israel,
         Tel: +972 3 6948000
         For additional information:
         Gadi Cunia,
         Senior Executive VP and CFO

Gazit-Globe Logo

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,143.92 +12.06 0.07%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,839.0850 +0.4420 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs