Gazit-Globe Announces 5.16% Stake in Brazilian Shopping Center Company, BR Malls

Gazit-Globe TSX announced today that it has reached (through wholly-owned subsidiary active in Brazil) a 5.16% stake in BR Malls, the leading Brazilian shopping center company. BR Malls is a public company traded on the Brazilian stock exchange "Bovespa" engaged in the acquisition, development and management of shopping centers in Brazil. BR Malls is known as the leading and largest company in its field and its portfolio includes 46 shopping centers, comprising 1.65 million m2 of GLA and 966 thousand m2 of owned GLA. BR Malls also has 2 shopping centers under development and has 6 expansion projects in existing shopping centers, which together will add approximately 146 thousand m2 of GLA, of which 103 thousand m2 will be owned by the company. BR Malls has approximately 9,000 tenants and its revenues and NOI in 2014 totaled approximately R$1.4 billion and R$1.3 billion, respectively. Rachel Lavine, CEO of Gazit-Globe said: "BR Malls is the leading shopping center company in Brazil. Our stake in BR Malls is for investment See full press release