TEL-AVIV, Israel and SAO PAULO, Brazil, Jan. 14, 2013 (GLOBE NEWSWIRE) -- Gazit-Globe (TASE:GLOB) (NYSE:GZT), one of the largest owners and operators of supermarket-anchored shopping centers in the world, announces that its private subsidiary, Gazit Brazil, has completed the acquisition of Prado Shopping Center located in the city of Campinas, in the state of Sao Paulo, Brazil, for BRL 40 million (approximately US$ 20 million).
The city of Campinas, which is located approximately 100 kilometers northwest from the state capital, Sao Paulo City, has an affluent population and is considered to be one of the richest cities in Brazil, hosting multiple domestic and international companies.
Prado Shopping Center comprises of 9,500 square meters of GLA and is anchored by Pao de Acucar, one of the leading supermarket chains in Brazil. The property is situated on one of the city's main streets that serves as a direct traffic artery to the city center; approximately 130,000 inhabitants live within a 3 kilometer radius of the property and approximately 470,000 within a 6 kilometer radius. Prado Shopping Center offers entertainment with a 4-auditorium movie theater, as well as convenience services that include a bank, a pharmacy, a food court with McDonalds, Subway and other restaurants, a fitness center, a hair salon and a laundry service.Mordejai Goldenberg, CEO of Gazit Brazil: "We are very pleased with the acquisition of Prado Shopping Center, which serves a great addition to our portfolio and is in line with our disciplined acquisition strategy. The shopping center is strategically located on a main traffic artery in the city of Campinas, the third largest city in the state of Sao Paulo, and is located within a very affluent community. In addition to the attractive going-in return, we see potential upside in the property that we plan to realize through proactive asset management over the coming years." Roni Soffer, President of Gazit-Globe: "This acquisition fits well with our Group's investment strategy to acquire properties in urban locations with strong demographics, anchored by a leading local supermarket chain, that have great growth potential. We are committed to strengthening our foothold in Brazil and our local management team continues to actively search for more quality assets to acquire and develop." About Gazit-Globe 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 New York Stock Exchange (NYSE:GZT). The Company is also 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 Group operates properties with a total value of approximately $19.8 billion in more than 20 countries, owns and operates over 600 properties with a gross leasable area of approximately 6.6 million square meters. www.gazit-globe.com FORWARD LOOKING STATEMENTS 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: Gazit-Globe: Investors Contact: IR@gazitgroup.com Media Contact: firstname.lastname@example.org Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000 Gazit Brazil: Mordejai Goldenberg, CEO, email@example.com Media Contact, Brazil, firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV