Gazit-Globe Announces the Acquisition of Prado Shopping Center in the State of
Sao Paulo, Brazil
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."
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
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.
Investors Contact: IR@gazitgroup.com
Media Contact: email@example.com
Gazit-Globe Headquarters, Tel-Aviv, Israel,
Tel: +972 3 6948000
Mordejai Goldenberg, CEO, firstname.lastname@example.org
Media Contact, Brazil, email@example.com
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