Gazit Globe Acquires Boston’s Marketplac Center for $81 Million

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BOSTON– Gazit Globe, a leading global real estate company focused on the ownership, development and management of shopping centers and mixed-use properties in major urban markets, announced that its wholly owned subsidiary, Gazit Horizons, Inc., has acquired Marketplace Center, a 62,0000 square foot retail condominium that sits directly on Boston’s Rose Kennedy Greenway for $81,800,000.

Adjacent to Faneuil Hall Marketplace, the building is 100% leased to a mix of retail and office tenants including Banana Republic, LOFT, and American Eagle.

“Marketplace Center sits at a highly valued intersection of public space and mass transit, and benefits from tremendous pedestrian traffic and visibility,” said Jeff Mooallem, CEO of Gazit Horizons. “We are very excited to be stewards of this prominent location along the Greenway and look forward to continuing to grow our portfolio in Boston.”

Gazit Horizons, Inc. invests in income producing real estate throughout the United States. With offices in Miami, New York City, and Boston, the Company actively pursues assets in targeted markets, focusing on major metro areas and growing urban cores of “gateway” cities. Gazit Horizons invests in properties with mixed-use potential and looks for unique opportunities to uncover value through diversity of use as well as redevelopment and proactive asset management.

It’s parent company, Gazit Globe, is a leading global real estate company focused on the ownership, management and development of retail and mixed use properties in North America, Brazil, Israel, northern, central and Eastern Europe, located in urban growth markets. Gazit Globe is listed on the New York Stock Exchange (NYSE: GZT) and the Tel Aviv Stock Exchange (TASE: GZT) and is included in the TA-35 index in Israel.  As of September 30, 2018, Gazit Globe owns and operates 101 properties, with a gross leasable area of approximately 2.5 million square meters and a total value of approximately NIS 38.6 billion.