Gazit-Globe

Gazit-Globe Ltd.
Public
Traded as TASE: GZT
NYSE: GZT
TSX: GZT
Industry Real Estate,
Shopping centers
Founded 1982
Headquarters Tel-Aviv, Israel
Key people
Chaim Katzman, Chairman
Dori Segal, Executive Vice Chairman
Roni Soffer, President
Revenue Increase₪ 5,249 million (2012)
Increase₪ 5,309 million (2012)
Profit Increase₪ 2,534 million (2012)
Number of employees
2000~ (2009)
Subsidiaries Equity One Inc.
First Capital Realty Inc.
Citycon Oyj.
Atrium European Real Estate
Gazit Globe Israel (Development)
Gazit Germany
Gazit Brazil
ProMed Properties Inc.
Website www.gazit-globe.com

Gazit-Globe is one of world’s largest owners, developers and operators of supermarket-anchored shopping centers in major urban markets. 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 Toronto Stock Exchange TSX: GZT and the Tel Aviv Stock Exchange TASE: GZT and is included in the TA-25 and Real-Estate 15 indices in Israel. Gazit-Globe owns and operates 592 properties in more than 20 countries, with a gross leasable area of approximately 6.7 million square meters and a total value of more than US$20 billion.

History

Gazit-Globe was founded in 1982, since May 1991 the company is controlled by Chaim Katzman.

Chaim Katzman (born in Tel Aviv 1949) trained as a lawyer and in 1979 moved to South Florida, where he started to be involved in the development and management of commercial and residential real estate. During the 1980s he also started developing his real estate business in Israel, and was able to consolidate his holding in Gazit-Globe, at the time a corporate shell with no business operations.[1]

The holding in Gazit-Globe enabled Katzman to draw investors to help him acquire additional retail centers, and it became a vehicle to raise capital for further property and business acquisitions.[1]

In 1992, Katzman formed Equity One as a partially owned subsidiary of Gazit that operate as a Real estate investment trust (REIT). Equity One grew gradually during the mid-1990s and in 1998 the company had an initial public offering on the New York Stock Exchange, Gazit-Globe retained partial ownership of Equity One after the business was spun off as a stand-alone company. Going public provided Equity One with access to US capital markets and hastened its growth. Equity One won over investors seeking steady dividend income.[2]

In 2004 Gazit acquired 33% of Citycon, a Finnish public company which focuses on commercial real estate in the Nordic region. In the following years Gazit increased its stake in the company to 47%.[3]

In August 2008 Gazit-Globe finalised the takeover of the troubled European property developer Meinl European Land (MELV.VI.), Gazit together with Citigroup jointly invested 800 million euros in Meinl Land. The move strengthened Gazit's foothold in the Eastern European and Russian markets. Following the takeover, Meinl's name was changed to Atrium European Real Estate Limited and a new board of directors and management was appointed.[4]

In December 2011, Gazit-Globe had an initial public offering on the New York Stock Exchange, which raised USD $81.0 million in gross proceeds. Its stock is traded under the ticker symbol “GZT”.[5]

In October 2013, Gazit-Globe listed its shares on the Toronto Stock Exchange under the ticker symbol "GZT" [6]

Major Holdings

United States

Canada

Europe

Israel

Brazil

External links

References

  1. 1.0 1.1 Seemuth, Mike (Sep 2004), "One buy at a time: Equity One CEO Chaim Katzman has proven to be a savvy shopper", South Florida CEO, retrieved 2010-05-26
  2. 2.0 2.1 Basch, Mark (May 15, 1998), "Equity One's IPO a little low", The Florida Times, retrieved 2010-05-27
  3. 3.0 3.1 Daniel, Eli (10-06-04), "Gazit Globe plans to invest $400 million in Baltics", Haaretz, retrieved 2010-05-27 Check date values in: |date= (help)
  4. "Gazit-Globe completes Meinl European Land takeover", Reuters, 2008-08-03, retrieved 2010-05-27
  5. Gazit-Globe Ltd. Celebrates Listing and First Day of Trading on the New York Stock Exchange, NYSE press release, Dec. 14, 2011
  6. 7.0 7.1 Dun & Bradstreet, Company Profile - Dun's 100 Israel's Largest Enterprises 2009, retrieved 2010-05-26