Reuters  Jul 3  Comment 
Gazit-Globe , Israel's largest real estate development company, said on Sunday it sold part of its stake in Brazil-based BR Malls for $52.6 million and used the funds to buy...
SeekingAlpha  May 26  Comment 
Reuters  May 26  Comment 
Gazit-Globe, Israel's largest real estate development company, swung to a net loss in the first quarter due to a revaluation of the company's financial derivatives.


Gazit-Globe (NYSE:GZT) owns and leases supermarket-anchored shopping centers. Gazit-Globe is one of the largest owners of such real estate and has properties across dozens of countries. The company focuses on purchasing properties in countries with stable GDPs and in relatively dense regions. Gazit-Globe believes that the supermarket-anchored properties lower risk by ensuring a constant high traffic. The company makes money from rent payed by companies which lease its properties[1]

Business Overview

For the full year 2010, Gazit-Globe reported a total revenue $4.6B. This was an increase from the $4.1B reported in 2009. The company also reported a net income of $1.6B in 2010 and $.7B in 2009.[2]

New Updates

The company's initial public offering of stock on the NYSE occurred on December 13, 2011. The company offered 9M shares each for $9. The company had originally announced that it would sell 12M shares. The final deal raised a total of $81M. The lead managers of the deal were Citi and Deutsche Bank.[3]

Trends & Forces

Dependence on the Global Real Estate Market

Because Gazit-Globe's assets consist of real estate shopping properties, the company's value rests crucially on the real estate market. A general decline in prices will make it harder for the company to sell and liquidate assets to generate cash flows without recording a net loss. By contrast, if the real estate market outperforms, Gazit-Globe will generate both revenue from leases and through the sale of its assets.[4]

  1. GZT F-1/A 2011 PROSPECTUS SUMMARY "Overview" pp. 1-2
  3. Renaissance Capital - IPO Home "Gazit-Globe prices downsized US IPO" 14 Dec 2011
  4. GZT F-1/A 2011 PROSPECTUS SUMMARY "Risk Factors" pp. 14-17
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