Gazit makes its first fundraising in Brazil

The company is a subsidiary of the Israeli Gazit Globe and has been operating in the country since 2008.

Shopping mall operator issues R$650 million CRI.

05/26/2021

The shopping center operator Gazit do Brasil made its first fundraising in the domestic market through a certificate of real estate receivables (CRI) of R$650 million. The company is a subsidiary of the Israeli Gazit Globe and has been operating in the country since 2008.

"We build investments in Brazil with our capital. Now is the time for a closer relationship with the market", says Mia Stark, president of Gazit do Brasil. Until the issuance of the CRI, the company had no debts. The funds raised will go to "investments in general".

CRI was structured innovatively. The debtor of the operation, who will receive the funds, is not a company but a real estate fund that has Gazit itself as the sole shareholder. For five years, the fund has managed the company's shopping centers, focusing on classes B and C: International (80%), Light, Prado Boulevard, Morumbi Town, and Mais Shopping.

Read the full story (in Portuguese).

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