Gazit Globe (GZT) announced that on July 25, 2018, wholly-owned subsidiaries of the company sold 5.6 million shares of common stock of Regency Centers Corporation (REG) for approximately $61.95 per share and total gross consideration of approximately $347M. In addition, in the months of June and July 2018 the company, through wholly-owned subsidiaries, divested approximately 2.5 million of Regency shares, for total gross consideration of approximately $502M. Following these sales, the company fully realized its remaining investment in Regency.
Gazit-Globe's wholly owned subsidiary Gazit Horizons has acquired a 60,000 square foot retail condominium complex in the Williamsburg section of Brooklyn for $47.3M or $790 per square foot. The acquisition is Gazit's second in Brooklyn in the last two months, and third overall in New York City. The asset in Williamsburg is the retail component of The Edge, a master-planned luxury complex that includes over 900 residential units, a 500 space parking garage, 1.75 acres of open space, and a New York City ferry terminal transporting commuters and visitors to Wall Street and Midtown Manhattan. The 60,000 square foot Edge Retail complex is anchored by a CVS Pharmacy and Brooklyn Harvest market and is 81% leased.
Gazit-Globe announced that its wholly owned subsidiary, Gazit Horizons, has entered into a joint venture for the leasehold interest in Ceasar's Bay Bazaar, a 300,000 square foot shopping center on 14 acres along the Brooklyn, New York waterfront, and has also acquired two additional assets in Boston, Massachusetts. The property in Brooklyn, in which Gazit acquired a 41% economic interest and 50% voting interest, is one of the strongest retailer sales volume locations in metro New York, and is directly accessible from the Belt Parkway. In addition, Gazit Horizons announced that it has acquired two assets in the Downtown Crossing district of Boston, at 467 Washington Street and 43 Winter Street.