Bloomberg News

Gazit-Globe Unit Buys Three Canadian Properties for $63 Million

April 01, 2007

Gazit-Globe Ltd. (GLOB), Israel's second- largest property developer by market value, said its Canadian unit agreed to buy three properties for about $63.3 million, doubling spending so far this year.

First Capital Realty Inc. (FCR), a developer and operator of shopping centers, will buy a total of 291,000 square feet of real estate in Ontario, Quebec and Alberta, Tel Aviv-based Gazit said in an e-mailed statement today. The company has spent $133.3 million on shopping centers this year.

Shares of Gazit Globe gained as much as 0.22 shekel, or 0.4 percent, to 55.30 shekels, and were trading at 52.29 shekels at 9:54 a.m. in Tel Aviv.

To contact the reporter on this story: Tal Barak in Tel Aviv at tbarak@bloomberg.net

To contact the editor responsible for this story: Balduin Hesse at bhesse2@bloomberg.net


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