GAZIT SAYS THAT WHAT WORKS FOR RETAIL AND SENIORS WILL WORK FOR MOBs
By Murray W. Wolf
In June, ProMed Properties announced that it had agreed to pay $53.3 million for five adjacent MOBs totaling about
189,000 square feet in Westchester, N.Y. Now the firm plans to add a sixth building, pictured above.
Rendering courtesy of ProMed Properties
Can lightning strike a third time for the giant Israeli real estate investment trust (REIT) Gazit-Globe Ltd.?
As of September, Gazit Globe (Tel Aviv Stock Exchange: GLOB) and its subsidiaries owned 656 properties totaling 5.6 million square feet on four continents with a total asset value of $15.6 billion, and the firm has annual revenues of more than $1.25 billion. It operates in the United States through its North Miami Beach, Fla.-based subsidiary, Gazit Group USA Inc.
Gazit started investing in North American shopping centers in 1992. Today, is has built a New York Stock
Exchange-traded retail REIT and the second largest retail REIT in Canada.
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