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{{short description|Global real estate company}}
{{Infobox company
{{Infobox company
| name = Gazit-Globe Ltd.
| name = Gazit-Globe Ltd.
| logo = Gazit-Globe logo.png
| logo = Globe Logo English.jpg
| image = G Tzameret.jpg
⚫
| type = [[Public company|Public]]
| image_caption = G Tzamere, 10 Nissim Aloni St. Tel Aviv
⚫
| traded_as = {{TASE|GZT}}
⚫
| type = [[Public company|Public]]
| key_people = Chaim Katzman, chairman<br> Dori Segal, executive vice chairman <br> Roni Soffer, president
⚫
| traded_as = {{TASE|GZT}}
⚫
| industry = [[Real estate]],<br> [[Shopping centers]]
| key_people = Chaim Katzman, founder and CEO
⚫
| products =
⚫
| industry = [[Real estate]],<br />[[shopping centers]]
⚫
| revenue = {{profit}}[[New Israeli Shekel|₪]] 6,150 million (''2015'')
⚫
| products =
⚫
| operating_income = {{profit}}[[New Israeli Shekel|₪]] 4,184 million (''2015'')
⚫
| revenue = {{profit}}[[New Israeli Shekel|₪]] 2,750 million (''2019'')
⚫
| num_employees = 2000~ (2009)
⚫
| operating_income = {{profit}}[[New Israeli Shekel|₪]] 1,438 million (''2019'')
⚫
| divisions =
⚫
| num_employees = 800~ (2019)
| subsid = Equity One Inc. <br> [[First Capital Realty]] Inc. <br> Citycon Oyj. <br> Atrium European Real Estate <br> Gazit Globe Israel (Development) <br> Gazit Brazil <br> ProMed Properties Inc.
⚫
| divisions =
⚫
| foundation = {{start date and age|1982}}
| subsid = Atruim Real Estate, Citycon, Gazit Horizons, Gazit Brazil
⚫
| location_city = [[Tel-Aviv]]
⚫
| foundation = {{start date and age|1982}}
⚫
| location_city = [[Tel-Aviv]]
| location_country = [[Israel]]
| location_country = [[Israel]]
| homepage = [http://www.gazitglobe.com www.gazitglobe.com]
| homepage = {{url|www.gazitglobe.com}}
}}
}}
'''Gazit Globe''' ({{langx|he|גזית-גלוב}}) is a leading global real estate company focused on the ownership, development, and management of income-producing properties for mixed use including retail, office and residential located in densely populated urban cities.
[[File:Gazit Globe hq.jpg|thumb|Gazit-Globe headquarters in [[Tel Aviv]]]]
'''Gazit-Globe''' is an international owner, developer and operator of supermarket-anchored shopping centers in major urban markets around the world. In addition, Gazit-Globe is active in the North American healthcare real-estate sector.


Gazit-Globe is listed on 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.
Gazit Globe is listed on the [[Tel Aviv Stock Exchange]] {{TASE|GZT}} and is part of the [[TA-35 Index|Tel Aviv 35]] Index. As of September 30, 2020, The Group owns and operates 104 properties, with a gross leasable area of approximately 2.5 million square meters (approximately 27 million square feet) and a total value of approximately $11 billion.


==History==
==History==
Line 29: Line 31:
| author = Seemuth, Mike
| author = Seemuth, Mike
| journal = South Florida CEO
| journal = South Florida CEO
| accessdate = 2010-05-26
| access-date = 2010-05-26
}}</ref>
}}</ref>


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.<ref name=SeemuthSep2004 />
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.<ref name=SeemuthSep2004 />


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.<ref name=BaschMay1998>{{Citation
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.<ref name=BaschMay1998>{{Citation
| title = Equity One's IPO a little low
| title = Equity One's IPO a little low
| url = http://jacksonville.com/tu-online/stories/051898/bus_1h7ticke.html
| url = http://jacksonville.com/tu-online/stories/051898/bus_1h7ticke.html
Line 40: Line 42:
| author = Basch, Mark
| author = Basch, Mark
| journal = The Florida Times
| journal = The Florida Times
| accessdate = 2010-05-27
| access-date = 2010-05-27
}}</ref>
}}</ref>


Line 49: Line 51:
| author = Daniel, Eli
| author = Daniel, Eli
| journal = [[Haaretz]]
| journal = [[Haaretz]]
| accessdate = 2010-05-27
| access-date = 2010-05-27
}}</ref>
}}</ref>


Line 55: Line 57:
| title = Gazit-Globe completes Meinl European Land takeover
| title = Gazit-Globe completes Meinl European Land takeover
| url = http://in.reuters.com/article/asiaCompanyAndMarkets/idINL32085520080803
| url = http://in.reuters.com/article/asiaCompanyAndMarkets/idINL32085520080803
| archive-url = https://archive.today/20130201110910/http://in.reuters.com/article/asiaCompanyAndMarkets/idINL32085520080803
⚫
| url-status = dead
⚫
| archive-date = February 1, 2013
| journal = Reuters
| journal = Reuters
| accessdate = 2010-05-27
| access-date = 2010-05-27
| date=2008-08-03
| date=2008-08-03
}}</ref>
}}</ref>


Line 69: Line 74:
| date = 2018-09-13
| date = 2018-09-13
| website = globenewswire.com
| website = globenewswire.com
| accessdate = 2019-04-17
| access-date = 2019-04-17
}}</ref> and from the New York Stock Exchange on March 11, 2019.<ref>{{Citation | title = Gazit-Globe Announces Planned NYSE Delisting
}}</ref> and from the New York Stock Exchange on March 11, 2019.<ref>{{Citation | title = Gazit-Globe Announces Planned NYSE Delisting
| url = https://www.globenewswire.com/news-release/2019/02/13/1725026/0/en/Gazit-Globe-Announces-Planned-NYSE-Delisting-Deregistration-and-Termination-of-Reporting-to-SEC.html
| url = https://www.globenewswire.com/news-release/2019/02/13/1725026/0/en/Gazit-Globe-Announces-Planned-NYSE-Delisting-Deregistration-and-Termination-of-Reporting-to-SEC.html
| date = 2019-02-13
| date = 2019-02-13
| website = globenewswire.com
| website = globenewswire.com
| accessdate = 2019-04-17
| access-date = 2019-04-17
}}</ref>
}}</ref>


==Major Holdings==
==Major holdings==


===United States===
===United States===
* Gazit Horizons (100%) - Wholly owned private subsidiary is engaged in the acquisition of income-producing properties with potential for development or redevelopment, with an emphasis in densely populated areas in major cities across the US, particularly in New York, Boston, Philadelphia and Miami.
* Equity One Inc. (45.3%) - a real estate investment trust ([[REIT]]) listed on the [[New York Stock Exchange]] (NYSE: EQY). Equity One owns, develops and operates shopping centers located in strategic metropolitan areas across the United States. These centers are anchored by leading supermarkets, pharmacies and retail store chains.<ref name=BaschMay1998 />
* ProMed Properties Inc. (100%) - is a privately held company engaged in the acquisition and management of medical office and medical-research buildings throughout the United States. ProMed's focus is on locations near hospitals and medical research universities.<ref name=DB>{{Citation
|title=Company Profile - Dun's 100 Israel's Largest Enterprises 2009
|url=http://duns100.dundb.co.il/ts.cgi?tsscript=comp_eng&duns=600149637
|archive-url=https://web.archive.org/web/20110927141112/http://duns100.dundb.co.il/ts.cgi?tsscript=comp_eng&duns=600149637
⚫
|url-status=dead
⚫
|archive-date=2011-09-27
|author=Dun & Bradstreet
|accessdate=2010-05-26
}}</ref>


===Canada===
===Canada===
* Gazit Tripllle (60%) - In November 2019, the company established a new joint venture to locate, acquire and manage mixed-use properties in densely populated areas of major cities in Canada, focusing at this time, on the city of Toronto.
* [[First Capital Realty]] Inc. (9.9%) - is listed on the [[Toronto Stock Exchange]] (TSX: FCR). FCR is Canada's leading owner, developer and operator of supermarket and drug store anchored neighborhood and community shopping centers located predominantly in growing metropolitan areas.<ref name=DB />


===Europe===
===Europe===
* Citycon Oyj. (49.3%) - is listed on the [[OMX|OMX Nordic Stock Exchange]] (OMX: CTY1S). Citycon owns, develops and operates shopping centers and commercial properties. Citycon is the market leader in Finland, with strong positions is Sweden and Norway and a firm foothold in Denmark and Estonia.<ref name=Daniel10-06-04 />
* [[Citycon|Citycon Oyj]] (48.9%) - is listed on the [[OMX|OMX Nordic Stock Exchange]] (OMX: CTY1S). Citycon owns, develops and operates shopping centers and commercial properties. Citycon is the market leader in Finland, with strong positions is Sweden and Norway and a firm foothold in Denmark and Estonia.<ref name=Daniel10-06-04 />
* Atrium European Real Estate Limited (39.9%) - is listed on the [[Euronext]] as well as on [[Vienna Stock Exchange]] (ATX/Euronext: ARTS). Atrium specializes in the acquisition, development and management of shopping centers in Central and Eastern Europe.
* Atrium European Real Estate Limited (73%) - is no longer listed on the [[Euronext]] as well as on [[Vienna Stock Exchange]] (ATX/Euronext: ARTS). Atrium specializes in the acquisition, development and management of shopping centers in Central and Eastern Europe.


===Israel===
===Israel===
* Gazit-Globe Israel assets division is active in rental, management, development and improvement of commercial centers, which include, inter alia, malls and open shopping centers. The shopping centers serves as shopping, leisure and entertainment centers for their customers.
* Gazit-Globe Israel (Development) Ltd. (82.5%) - is a privately held company that is active in the acquisition, development and management of shopping centers in Israel. Gazit-Globe Israel (Development) is also active in Bulgaria and Macedonia. Gazit-Globe Israel is also the controlling shareholder of Dori Group (73.9%), a public company traded on the Tel-Aviv Stock Exchange (TASE: DORI) and one of Israel's leading construction companies. Dori Group is active in a wide array of real estate development and construction activities in Israel and overseas.<ref>[http://www.globes.co.il/en/article-5-offers-to-buy-gazit-globes-israel-holdings-1001059650 5 offers to buy Gazit-Globes Israel holdings]</ref>


===Brazil===
===Brazil===
* Gazit Brazil (100%) - is a privately held company active in the acquisition, development and management of shopping centers in Brazil.
* Gazit Brazil (100%) - Wholly owned private subsidiary, active in the acquisition, development and management of shopping centers in Sao-Paulo, Brazil.

==See also==
*[[Economy of Israel]]


==References==
==References==
Line 114: Line 107:
{{TA 25 companies}}
{{TA 25 companies}}


[[Category:Companies listed on TASE]]
[[Category:Companies listed on the Tel Aviv Stock Exchange]]
[[Category:Companies in the TA-35 Index]]
[[Category:Real estate companies of Israel]]
[[Category:Real estate companies of Israel]]
[[Category:Companies based in Tel Aviv]]
[[Category:Companies based in Tel Aviv]]

Latest revision as of 19:16, 25 October 2024

Gazit-Globe Ltd.
Company typePublic
TASE: GZT
IndustryReal estate,
shopping centers
Founded1982; 42 years ago (1982)
Headquarters
Tel-Aviv
,
Israel
Key people
Chaim Katzman, founder and CEO
RevenueIncrease₪ 2,750 million (2019)
Increase₪ 1,438 million (2019)
Number of employees
800~ (2019)
SubsidiariesAtruim Real Estate, Citycon, Gazit Horizons, Gazit Brazil
Websitewww.gazitglobe.com

Gazit Globe (Hebrew: גזית-גלוב) is a leading global real estate company focused on the ownership, development, and management of income-producing properties for mixed use including retail, office and residential located in densely populated urban cities.

Gazit Globe is listed on the Tel Aviv Stock Exchange TASE: GZT and is part of the Tel Aviv 35 Index. As of September 30, 2020, The Group owns and operates 104 properties, with a gross leasable area of approximately 2.5 million square meters (approximately 27 million square feet) and a total value of approximately $11 billion.

History

[edit]

Gazit-Globe was founded in 1982. Since May 1991, the company has been controlled by Chaim Katzman, who trained as a lawyer and in 1979 moved to South Florida, where he became 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 US$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]

Gazit-Globe voluntarily delisted from the Toronto Stock Exchange on September 27, 2018,[7] and from the New York Stock Exchange on March 11, 2019.[8]

Major holdings

[edit]

United States

[edit]
  • Gazit Horizons (100%) - Wholly owned private subsidiary is engaged in the acquisition of income-producing properties with potential for development or redevelopment, with an emphasis in densely populated areas in major cities across the US, particularly in New York, Boston, Philadelphia and Miami.

Canada

[edit]
  • Gazit Tripllle (60%) - In November 2019, the company established a new joint venture to locate, acquire and manage mixed-use properties in densely populated areas of major cities in Canada, focusing at this time, on the city of Toronto.

Europe

[edit]
  • Citycon Oyj (48.9%) - is listed on the OMX Nordic Stock Exchange (OMX: CTY1S). Citycon owns, develops and operates shopping centers and commercial properties. Citycon is the market leader in Finland, with strong positions is Sweden and Norway and a firm foothold in Denmark and Estonia.[3]
  • Atrium European Real Estate Limited (73%) - is no longer listed on the Euronext as well as on Vienna Stock Exchange (ATX/Euronext: ARTS). Atrium specializes in the acquisition, development and management of shopping centers in Central and Eastern Europe.

Israel

[edit]
  • Gazit-Globe Israel assets division is active in rental, management, development and improvement of commercial centers, which include, inter alia, malls and open shopping centers. The shopping centers serves as shopping, leisure and entertainment centers for their customers.

Brazil

[edit]
  • Gazit Brazil (100%) - Wholly owned private subsidiary, active in the acquisition, development and management of shopping centers in Sao-Paulo, Brazil.

References

[edit]
  1. ^ a b 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. ^ Basch, Mark (May 15, 1998), "Equity One's IPO a little low", The Florida Times, retrieved 2010-05-27
  3. ^ a b Daniel, Eli (2004-10-06), "Gazit Globe plans to invest $400 million in Baltics", Haaretz, retrieved 2010-05-27
  4. ^ "Gazit-Globe completes Meinl European Land takeover", Reuters, 2008-08-03, archived from the original on February 1, 2013, retrieved 2010-05-27
  5. ^ Gazit-Globe Ltd. Celebrates Listing and First Day of Trading on the New York Stock Exchange Archived 2013-10-12 at the Wayback Machine, NYSE press release, Dec. 14, 2011
  6. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2014-10-09. Retrieved 2013-10-15.{{cite web}}: CS1 maint: archived copy as title (link)
  7. ^ "Gazit-Globe to Delist Ordinary Shares from the Toronto Stock Exchange", globenewswire.com, 2018-09-13, retrieved 2019-04-17
  8. ^ "Gazit-Globe Announces Planned NYSE Delisting", globenewswire.com, 2019-02-13, retrieved 2019-04-17
[edit]
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