Gazit-Globe
Corporate brand
UnclaimedIsraeli real estate investment company focused on income-producing retail, office, residential, and mixed-use properties in densely populated urban markets.
Last updated August 31, 2026
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Overview
Gazit-Globe was an Israeli real estate investment company established in 1982 and headquartered in Tel Aviv. Its business centered on owning, developing, redeveloping, and managing income-producing properties in densely populated metropolitan areas. Although shopping centers were its most visible asset class, the company described its portfolio more broadly as including retail, office, residential, and mixed-use properties. Its investment model emphasized established urban locations, recurring rental income, operating control, and the potential to increase property value through redevelopment and modernization. The company became associated with Chaim Katzman, who moved from Israel to South Florida in 1979 and developed a career in commercial and residential real estate. During the 1980s, Katzman expanded his activities in Israel and consolidated his position in Gazit-Globe, which at that stage was a corporate shell without operating businesses. The public-company vehicle enabled him to attract capital and acquire additional retail properties. From May 1991 onward, Katzman controlled the company and guided its transformation into an international real estate group. Gazit-Globe expanded through operating subsidiaries, public-company investments, and regional platforms. In the United States, it created Equity One in 1992 as a partially owned subsidiary focused on retail properties and operating as a real estate investment trust. Equity One grew during the 1990s and completed a New York Stock Exchange initial public offering in 1998, giving the business access to US capital markets and helping accelerate its expansion. Gazit-Globe also developed a wholly owned US platform, Gazit Horizons, focused on acquiring income-producing properties with development or redevelopment potential in major cities including New York, Boston, Philadelphia, and Miami. European expansion included the acquisition of a significant stake in Citycon, a Finnish listed company specializing in shopping centers and commercial real estate in the Nordic and Baltic regions. Gazit-Globe also participated with Citigroup in the 2008 takeover of Meinl European Land, a troubled European property developer. After the transaction, the company was renamed Atrium European Real Estate and received a new board and management team. These investments broadened Gazit-Globe's presence across Northern, Central, and Eastern Europe. The company also established or maintained operating platforms in Canada, Brazil, and Israel. Gazit Tripllle, formed in 2019 as a joint venture, targeted mixed-use properties in major Canadian cities, initially emphasizing Toronto. Gazit Brazil focused on shopping-center acquisition, development, and management in São Paulo. In Israel, the company's asset division operated, managed, developed, and improved malls and open-air retail centers that combined shopping, leisure, and entertainment uses. Gazit-Globe completed a New York Stock Exchange offering in December 2011 and later listed its shares on the Toronto Stock Exchange in October 2013, using the ticker GZT in both markets. It voluntarily delisted from Toronto in September 2018 and from New York in March 2019, while remaining associated with the Tel Aviv Stock Exchange. By September 30, 2020, the group was reported to own and operate 104 properties with approximately 2.5 million square meters of gross leasable area and an aggregate property value of about US$11 billion. The Gazit-Globe name was subsequently replaced by G City, so Gazit-Globe is best treated as the former name of the continuing real estate group rather than its current corporate brand.
History
Gazit-Globe was founded in 1982 as an Israeli real estate vehicle. Its later development was closely connected with Chaim Katzman, a lawyer by training who had moved to South Florida in 1979 and entered commercial and residential real estate. During the 1980s, Katzman expanded his real estate activities in Israel and consolidated his holding in Gazit-Globe. The company was initially a corporate shell without operating activities, but its public-company structure became a means of attracting investors and raising capital for retail-property acquisitions. In May 1991, Katzman assumed control of Gazit-Globe. The company then pursued an international expansion strategy built around ownership and management of income-producing retail properties in major metropolitan areas. In 1992, it formed Equity One as a partially owned subsidiary and operated the business as a real estate investment trust. Equity One expanded during the middle of the decade and went public on the New York Stock Exchange in 1998. Gazit-Globe retained a partial interest after the flotation, while the listing gave Equity One access to US capital and supported faster growth. The business appealed to investors seeking recurring dividend income from retail real estate. Gazit-Globe expanded into Europe in 2004 by acquiring a 33 percent interest in Citycon, a Finnish public company focused on commercial property in the Nordic region. Its interest later increased to approximately 47 percent. Citycon's portfolio covered shopping centers and other commercial properties, with particularly strong positions in Finland, Sweden, and Norway and additional operations in Denmark and Estonia. In August 2008, Gazit-Globe completed the takeover of Meinl European Land in partnership with Citigroup. The transaction involved approximately €800 million of joint investment and gave Gazit-Globe a stronger presence in Central and Eastern European and Russian real estate markets. Meinl European Land was renamed Atrium European Real Estate after the transaction, and a new board and management structure was installed. The group returned to the New York public market in December 2011 through an offering that generated US$81.0 million in gross proceeds. In October 2013, Gazit-Globe also listed its shares on the Toronto Stock Exchange under GZT. It later simplified its exchange presence, voluntarily delisting from Toronto on September 27, 2018, and from New York on March 11, 2019. The company continued to be associated with the Tel Aviv Stock Exchange and the GZT ticker. Its operating platforms covered several regions. Gazit Horizons was a wholly owned US subsidiary focused on income-producing properties with development or redevelopment potential, particularly in New York, Boston, Philadelphia, and Miami. In Brazil, Gazit Brazil acquired, developed, and managed shopping centers, with activity concentrated in São Paulo. In Israel, the group's asset division operated and improved malls and open shopping centers. In November 2019, Gazit-Globe established Gazit Tripllle, a 60 percent-owned Canadian joint venture aimed at mixed-use properties in major cities, initially Toronto. As of September 30, 2020, the group was reported to own and operate 104 properties, representing approximately 2.5 million square meters of gross leasable area and an aggregate value of approximately US$11 billion. The portfolio was described as encompassing retail, office, residential, and mixed-use properties in densely populated urban areas. The Gazit-Globe name was later replaced by G City, making Gazit-Globe the former name of the group rather than its current brand.
- 2020
Reported scale of the property portfolio
[1]As of September 30, the group is reported to own and operate 104 properties with approximately 2.5 million square meters of gross leasable area.
- 2019
New York delisting and Canadian expansion
[1]Gazit-Globe voluntarily delists from the New York Stock Exchange and establishes the Gazit Tripllle Canadian joint venture.
- 2018
Toronto delisting
[1]The company voluntarily delists from the Toronto Stock Exchange on September 27.
- 2013
Toronto Stock Exchange listing
[1]Gazit-Globe lists its shares on the Toronto Stock Exchange, also using the ticker GZT.
- 2011
Gazit-Globe lists on the New York Stock Exchange
[1]The company completes a New York Stock Exchange initial public offering under the ticker GZT.
- 2008
Meinl European Land takeover is completed
[1]Gazit-Globe and Citigroup complete the takeover of Meinl European Land, which is subsequently renamed Atrium European Real Estate.
- 2004
Gazit-Globe acquires a major Citycon stake
[1]The company acquires 33 percent of Finnish commercial real estate company Citycon and later increases the holding to approximately 47 percent.
- 1998
Equity One completes a New York Stock Exchange IPO
[1]Equity One goes public in New York, improving its access to capital and supporting the expansion of its retail-property portfolio.
- 1992
Equity One is formed
[1]Gazit-Globe establishes Equity One as a partially owned US real estate investment trust focused on retail properties.
- 1991
Chaim Katzman assumes control
[1]Katzman becomes the controlling figure in Gazit-Globe and guides its shift from a dormant corporate shell toward an operating real estate group.
Products and positioning
An international real estate investment and operating group emphasizing recurring rental income, densely populated urban locations, retail-led mixed-use properties, and long-term asset enhancement.
Retail real estate
Urban shopping centers
Gazit-Globe's core assets were shopping centers located in densely populated metropolitan areas. The company generally combined ownership, leasing, property management, development, and redevelopment, seeking durable tenant demand and recurring rental income rather than treating properties solely as short-term trading assets.
Mixed-use real estate
Mixed-use urban properties
The group expanded beyond conventional retail centers into mixed-use properties incorporating combinations of retail, office, residential, leisure, and entertainment uses. This format supported the company's strategy of investing in established urban locations where redevelopment could increase both property utility and long-term income.
United States real estate platform
Gazit Horizons
Gazit Horizons was a wholly owned US subsidiary focused on acquiring income-producing properties with development or redevelopment potential. Its stated geographic emphasis included major US cities such as New York, Boston, Philadelphia, and Miami, reflecting the group's preference for densely populated urban markets.
Nordic and Baltic commercial real estate · 2004
Citycon
Citycon was a Finnish listed company in which Gazit-Globe built a substantial minority holding. Citycon owned, developed, and operated shopping centers and other commercial properties, with significant positions in Finland, Sweden, and Norway and additional activity in Denmark and Estonia.
Central and Eastern European real estate · 2008
Atrium European Real Estate
Atrium European Real Estate was the renamed successor to Meinl European Land after its 2008 takeover by Gazit-Globe and Citigroup. The business specialized in acquiring, developing, and managing shopping centers in Central and Eastern Europe.
Brazilian retail real estate
Gazit Brazil
Gazit Brazil was a wholly owned platform involved in the acquisition, development, and management of shopping centers in São Paulo, extending the group's retail-property model into Brazil.
Brand decisions
2019
Canadian mixed-use property joint ventureStrategyBackground
Gazit-Globe identified densely populated Canadian cities as an opportunity for urban mixed-use property investment.
Action taken
The company established Gazit Tripllle, a 60 percent-owned joint venture focused initially on acquiring and managing mixed-use properties in Toronto.
Aftermath
The venture extended the group's urban mixed-use strategy into Canada.
2019
Voluntary New York Stock Exchange delistingStrategyBackground
Gazit-Globe continued to simplify its international public-market structure after the Toronto delisting.
Action taken
The company voluntarily delisted from the New York Stock Exchange on March 11, 2019.
Aftermath
The company no longer maintained its New York listing, while the Gazit-Globe name remained associated with its Tel Aviv-listed business until the later rebrand to G City.
2018
Voluntary Toronto Stock Exchange delistingStrategyBackground
The company reassessed its international exchange structure after maintaining listings in Israel, the United States, and Canada.
Action taken
Gazit-Globe voluntarily delisted its shares from the Toronto Stock Exchange on September 27, 2018.
Aftermath
The company reduced its exchange listings while continuing its association with the Tel Aviv Stock Exchange.
2011
New York Stock Exchange initial public offeringOtherBackground
Gazit-Globe pursued access to international public capital markets alongside its Tel Aviv listing.
Action taken
The company completed an initial public offering on the New York Stock Exchange under ticker GZT.
Aftermath
The offering raised US$81.0 million in gross proceeds according to the cited reference and broadened the company's investor base.
Gross IPO proceeds. US$81.0 million (December 2011)
2008
Takeover of Meinl European LandM&ABackground
Gazit-Globe sought to expand its European real estate platform and strengthen its presence in Central and Eastern European markets.
Action taken
Together with Citigroup, Gazit-Globe invested approximately €800 million in the takeover of Meinl European Land. The acquired company was renamed Atrium European Real Estate and received new leadership.
Aftermath
The transaction expanded Gazit-Globe's European footprint and created a platform focused on shopping centers in Central and Eastern Europe.
Joint investment. Approximately €800 million (2008)
Sources2 sources
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