Gazit-Globe announced that Dori Segal is stepping down as Vice Chairman of the board and CEO of the company and from all his other executive roles in the company on January 31, 2018. Chaim Katzman, the chairman of the company, will assume the position of CEO as of such date.
Gazit-Globe announced that its wholly owned subsidiary, Gazit Brasil, has entered into a binding agreement to acquire 70% of Internacional Shopping, a 77,000 sqm shopping mall in the northern part of metropolitan Sao Paulo, for approximately $281M, excluding closing costs. The all-cash deal is expected to close in the later part of first quarter 2018, and will be funded by recent dispositions including gains on sales of assets, retained free cash flow and other sources of company capital.
Gazit-Globe announced that its wholly owned subsidiary, Gazit Brasil, completed the sale of Extra Itaim in Sao Paulo for total proceeds of R$350M realizing a cash gain of R$140M. The sale price represents a gain of R$108M above the IFRS value in Gazit-Globe financial reports as of September 30, 2017.
Gazit-Globe announced that its wholly owned subsidiary, Gazit Horizons, has acquired its first asset in the New York market, a three-level, 92,000-square-foot retail condominium on Manhattan's upper east side, for $73.25M, or just below $800 per square foot.